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

2x Ether ETF (NYSEARCA:ETHU) gapped down before the market opened on Thursday . The stock had previously closed at $71.72, but opened at $64.39. 2x Ether ETF shares last traded at $64.30, with a volume of 2,402,779 shares traded.

2x Ether ETF Stock Down 9.0%

The firm’s 50 day moving average price is $91.42 and its two-hundred day moving average price is $102.17.

Institutional Trading of 2x Ether ETF

A number of hedge funds and other institutional investors have recently modified their holdings of ETHU. Farther Finance Advisors LLC bought a new stake in shares of 2x Ether ETF in the third quarter worth $28,000. Beaumont Financial Advisors LLC bought a new stake in 2x Ether ETF during the third quarter worth approximately $376,000. Silverleafe Capital Partners LLC acquired a new position in shares of 2x Ether ETF in the 2nd quarter valued at $223,000. Kingswood Wealth Advisors LLC acquired a new stake in 2x Ether ETF during the 3rd quarter worth about $690,000. Finally, Flow Traders U.S. LLC purchased a new stake in 2x Ether ETF during the second 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.