2x Ether ETF (BATS:ETHU) Stock Falls 1.6% – What’s Next?

Shares of 2x Ether ETF (BATS:ETHU) were down 1.6% on Monday. The company traded as low as $29.54 and last traded at $30.06. Approximately 5,920,905 shares were traded during mid-day trading, a decline of 10% from the average session volume of 6,569,265 shares. The stock had previously closed at $30.54.

2x Ether ETF Stock Performance

The firm has a 50 day moving average price of $22.39 and a 200-day moving average price of $21.04.

Hedge Funds Weigh In On 2x Ether ETF

A hedge fund recently raised its stake in 2x Ether ETF stock. Parallel Advisors LLC raised its holdings in 2x Ether ETF (BATS:ETHU) by 78.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,450 shares of the company’s stock after purchasing an additional 1,080 shares during the period. Parallel Advisors LLC’s holdings in 2x Ether ETF were worth $55,000 at the end of the most recent reporting period.

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.