Ultra Ether ETF (NYSEARCA:ETHT) Shares Down 5.4% – Here’s Why

Shares of Ultra Ether ETF (NYSEARCA:ETHT) dropped 5.4% during mid-day trading on Friday . The stock traded as low as $16.19 and last traded at $16.57. 3,160,328 shares changed hands during trading, an increase of 58% from the average session volume of 2,006,238 shares. The stock had previously closed at $17.52.

Ultra Ether ETF Stock Performance

The stock has a 50-day moving average of $10.74 and a 200-day moving average of $13.36.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC acquired a new stake in shares of Ultra Ether ETF during the 1st quarter valued at $30,000. Tower Research Capital LLC TRC raised its position in shares of Ultra Ether ETF by 50.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the company’s stock worth $65,000 after purchasing an additional 546 shares during the period. 180 Wealth Advisors LLC purchased a new stake in shares of Ultra Ether ETF during the first quarter valued at $175,000. Integrated Wealth Concepts LLC acquired a new position in shares of Ultra Ether ETF in the 3rd quarter valued at $282,000. Finally, Group One Trading LLC increased its stake in Ultra Ether ETF by 868.2% in the 2nd quarter. Group One Trading LLC now owns 7,610 shares of the company’s stock worth $300,000 after purchasing an additional 6,824 shares in the last quarter.

About Ultra Ether ETF

The ProShares Ultra Ether ETF (ETHT) is an exchange-traded fund that is based on the Bloomberg Ethereum index. The fund tracks 2x the daily price movements of an index that measures the price of Ether. It uses futures contracts to provide leveraged exposure without directly investing in Ether. ETHT was launched on Jun 7, 2024 and is issued by ProShares.