2x Ether ETF (NYSEARCA:ETHU) Shares Gap Down – Here’s What Happened

2x Ether ETF (NYSEARCA:ETHU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $66.03, but opened at $56.89. 2x Ether ETF shares last traded at $55.92, with a volume of 2,176,499 shares trading hands.

2x Ether ETF Trading Down 18.5%

The firm has a 50-day moving average price of $60.09 and a two-hundred day moving average price of $102.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC bought a new stake in 2x Ether ETF during the 3rd quarter worth $28,000. Beaumont Financial Advisors LLC bought a new position in 2x Ether ETF during the 3rd quarter worth approximately $376,000. Kingswood Wealth Advisors LLC acquired a new position in 2x Ether ETF in the third quarter valued at approximately $690,000. FNY Investment Advisers LLC acquired a new stake in 2x Ether ETF in the third quarter worth $844,000. Finally, Flow Traders U.S. LLC bought a new stake in 2x Ether ETF in the 2nd quarter valued at about $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.