2x Ether ETF (NYSEARCA:ETHU) Trading Up 6.9% – Should You Buy?

2x Ether ETF (NYSEARCA:ETHU) rose 6.9% on Wednesday . The company traded as high as $63.50 and last traded at $61.06. Approximately 3,266,974 shares were traded during trading, a decline of 25% from the average daily volume of 4,340,187 shares. The stock had previously closed at $57.11.

2x Ether ETF Price Performance

The stock has a 50-day moving average of $99.05 and a two-hundred day moving average of $102.32.

Hedge Funds Weigh In On 2x Ether ETF

A number of large investors have recently added to or reduced their stakes in the business. Beaumont Financial Advisors LLC purchased a new stake in 2x Ether ETF during the third quarter valued at about $376,000. Kingswood Wealth Advisors LLC bought a new stake in shares of 2x Ether ETF in the 3rd quarter valued at about $690,000. Farther Finance Advisors LLC purchased a new stake in 2x Ether ETF during the 3rd quarter valued at about $28,000. Jump Financial LLC bought a new position in 2x Ether ETF during the 2nd quarter worth approximately $5,094,000. Finally, Flow Traders U.S. LLC purchased a new position in 2x Ether ETF in the 2nd quarter worth approximately $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.