2x Ether ETF (NYSEARCA:ETHU) Trading Down 9.1% – Time to Sell?

2x Ether ETF (NYSEARCA:ETHU) shares fell 9.1% during trading on Tuesday . The company traded as low as $20.62 and last traded at $20.84. 2,122,959 shares were traded during trading, a decline of 71% from the average session volume of 7,308,893 shares. The stock had previously closed at $22.92.

2x Ether ETF Price Performance

The company has a 50-day moving average price of $50.09 and a 200-day moving average price of $93.79.

Institutional Trading of 2x Ether ETF

A number of large investors have recently made changes to their positions in ETHU. DRW Securities LLC grew its stake in 2x Ether ETF by 8,918.1% in the fourth quarter. DRW Securities LLC now owns 403,742 shares of the company’s stock valued at $22,085,000 after acquiring an additional 399,265 shares during the period. Jump Financial LLC bought a new position in shares of 2x Ether ETF in the second quarter valued at $5,094,000. Flow Traders U.S. LLC bought a new position in shares of 2x Ether ETF in the 2nd quarter valued at about $2,071,000. FNY Investment Advisers LLC bought a new position in 2x Ether ETF during the third quarter worth about $844,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of 2x Ether ETF during the 3rd quarter worth approximately $690,000.

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.