2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – What’s Next?

Shares of 2x Ether ETF (NYSEARCA:ETHU) gapped up prior to trading on Wednesday . The stock had previously closed at $70.92, but opened at $76.70. 2x Ether ETF shares last traded at $76.93, with a volume of 2,573,444 shares trading hands.

2x Ether ETF Price Performance

The business’s 50-day moving average price is $132.62 and its 200 day moving average price is $98.98.

Hedge Funds Weigh In On 2x Ether ETF

A number of hedge funds have recently bought and sold shares of the business. OLD Mission Capital LLC purchased a new stake in shares of 2x Ether ETF during the 1st quarter valued at about $680,000. Jump Financial LLC bought a new position in shares of 2x Ether ETF during the 2nd quarter valued at approximately $5,094,000. Flow Traders U.S. LLC bought a new position in shares of 2x Ether ETF during the 2nd quarter valued at approximately $2,071,000. Kingswood Wealth Advisors LLC bought a new position in shares of 2x Ether ETF during the 3rd quarter valued at approximately $690,000. Finally, Silverleafe Capital Partners LLC purchased a new stake in 2x Ether ETF during the 2nd quarter valued at $223,000.

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.