2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Still a Buy?

Shares of 2x Ether ETF (NYSEARCA:ETHU) gapped up prior to trading on Wednesday . The stock had previously closed at $18.78, but opened at $21.10. 2x Ether ETF shares last traded at $21.75, with a volume of 2,579,348 shares.

2x Ether ETF Stock Performance

The company has a fifty day moving average price of $43.93 and a 200-day moving average price of $88.80.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Flow Traders U.S. LLC acquired a new stake in shares of 2x Ether ETF in the 2nd quarter valued at $2,071,000. Jump Financial LLC acquired a new position in 2x Ether ETF during the second quarter worth $5,094,000. Beaumont Financial Advisors LLC acquired a new stake in shares of 2x Ether ETF in the third quarter worth about $376,000. Kingswood Wealth Advisors LLC bought a new stake in shares of 2x Ether ETF during the 3rd quarter worth about $690,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of 2x Ether ETF during the 3rd quarter valued at about $28,000.

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.