2x Ether ETF (NYSEARCA:ETHU) Sets New 1-Year Low – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.65 and last traded at $21.81, with a volume of 6182508 shares traded. The stock had previously closed at $27.03.

2x Ether ETF Price Performance

The stock has a 50 day simple moving average of $56.04 and a two-hundred day simple moving average of $99.30.

Institutional Trading of 2x Ether ETF

A number of large investors have recently added to or reduced their stakes in ETHU. Jump Financial LLC acquired a new position in shares of 2x Ether ETF during the 2nd quarter worth about $5,094,000. Flow Traders U.S. LLC bought a new position in 2x Ether ETF during the second quarter worth about $2,071,000. FNY Investment Advisers LLC acquired a new position in 2x Ether ETF during the third quarter worth approximately $844,000. Kingswood Wealth Advisors LLC bought a new stake in 2x Ether ETF in the third quarter valued at approximately $690,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in shares of 2x Ether ETF in the third quarter valued at approximately $376,000.

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.