2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Here’s What Happened

2x Ether ETF (NYSEARCA:ETHU)’s share price gapped up before the market opened on Friday . The stock had previously closed at $20.18, but opened at $21.46. 2x Ether ETF shares last traded at $21.85, with a volume of 1,524,892 shares trading hands.

2x Ether ETF Trading Up 14.4%

The stock’s 50-day simple moving average is $51.60 and its 200-day simple moving average is $95.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in 2x Ether ETF in the third quarter worth $28,000. Beaumont Financial Advisors LLC bought a new stake in 2x Ether ETF during the third quarter worth about $376,000. Kingswood Wealth Advisors LLC purchased a new stake in 2x Ether ETF in the third quarter worth about $690,000. FNY Investment Advisers LLC purchased a new stake in 2x Ether ETF in the third quarter worth about $844,000. Finally, Flow Traders U.S. LLC bought a new position in shares of 2x Ether ETF during the second quarter valued at approximately $2,071,000.

About 2x Ether ETF

The 2x Ether ETF (ETHU) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is actively managed, aiming to provide 2x the daily price movements of Ether (ETH). The funds primary investment is cash-settled CME Ether futures ETHU was launched on Jun 4, 2024 and is issued by Volatility Shares.