2x Ether ETF (BATS:ETHU) Stock Price Down 8.9% – Should You Sell?

2x Ether ETF (BATS:ETHU) dropped 8.9% during mid-day trading on Monday . The company traded as low as $21.08 and last traded at $22.09. Approximately 6,497,615 shares changed hands during trading, a decline of 1% from the average daily volume of 6,567,257 shares. The stock had previously closed at $24.25.

2x Ether ETF Stock Performance

The stock’s fifty day moving average is $24.82 and its 200-day moving average is $41.95.

Hedge Funds Weigh In On 2x Ether ETF

A number of large investors have recently added to or reduced their stakes in ETHU. Parallel Advisors LLC raised its position in 2x Ether ETF by 78.8% in the 1st quarter. Parallel Advisors LLC now owns 2,450 shares of the company’s stock valued at $55,000 after buying an additional 1,080 shares during the last quarter. DGS Capital Management LLC acquired a new stake in 2x Ether ETF in the 1st quarter valued at approximately $274,000. FNY Investment Advisers LLC acquired a new stake in 2x Ether ETF in the 3rd quarter valued at approximately $844,000. Jump Financial LLC acquired a new stake in 2x Ether ETF in the 4th quarter valued at approximately $2,297,000. Finally, DRW Securities LLC raised its position in 2x Ether ETF by 8,918.1% in the 4th quarter. DRW Securities LLC now owns 403,742 shares of the company’s stock valued at $22,085,000 after buying an additional 399,265 shares during the last quarter.

2x Ether ETF Company Profile

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.