2x Ether ETF (NYSEARCA:ETHU) Shares Down 9.9% – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU) shares traded down 9.9% during trading on Friday . The stock traded as low as $19.80 and last traded at $19.85. 3,574,483 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 7,108,137 shares. The stock had previously closed at $22.03.

2x Ether ETF Stock Performance

The business has a 50-day moving average of $43.93 and a two-hundred day moving average of $88.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC bought a new position in shares of 2x Ether ETF during the 3rd quarter worth approximately $28,000. Beaumont Financial Advisors LLC purchased a new position in 2x Ether ETF in the third quarter worth $376,000. Kingswood Wealth Advisors LLC acquired a new position in shares of 2x Ether ETF during the third quarter worth $690,000. FNY Investment Advisers LLC acquired a new position in shares of 2x Ether ETF during the third quarter worth $844,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of 2x Ether ETF during the 2nd quarter valued at $2,071,000.

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.