2x Ether ETF (NYSEARCA:ETHU) Shares Down 9.1% – Here’s Why

2x Ether ETF (NYSEARCA:ETHU)’s stock price was down 9.1% during mid-day trading on Tuesday . The company traded as low as $20.62 and last traded at $20.84. Approximately 2,122,959 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 7,308,893 shares. The stock had previously closed at $22.92.

2x Ether ETF Trading Up 0.9%

The company has a fifty day simple moving average of $48.09 and a two-hundred day simple moving average of $92.71.

Institutional Investors Weigh In On 2x Ether ETF

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in 2x Ether ETF during the 3rd quarter worth about $28,000. Beaumont Financial Advisors LLC purchased a new position in shares of 2x Ether ETF in the 3rd quarter valued at about $376,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 2x Ether ETF in the 3rd quarter valued at about $690,000. FNY Investment Advisers LLC acquired a new stake in shares of 2x Ether ETF during the 3rd quarter worth about $844,000. Finally, Flow Traders U.S. LLC purchased a new stake in 2x Ether ETF during the second quarter worth 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.