Ultra Ether ETF (NYSEARCA:ETHT) Stock Price Down 6.9% – What’s Next?

Ultra Ether ETF (NYSEARCA:ETHT)’s share price fell 6.9% on Wednesday . The company traded as low as $9.13 and last traded at $9.18. Approximately 2,783,034 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 2,069,802 shares. The stock had previously closed at $9.86.

Ultra Ether ETF Stock Performance

The firm’s 50-day moving average price is $14.65 and its 200 day moving average price is $22.77.

Institutional Trading of Ultra Ether ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC purchased a new stake in shares of Ultra Ether ETF in the first quarter worth approximately $1,365,000. 180 Wealth Advisors LLC bought a new stake in Ultra Ether ETF during the first quarter worth $175,000. Integrated Advisors Network LLC bought a new stake in Ultra Ether ETF during the first quarter worth $388,000. Bogart Wealth LLC purchased a new stake in Ultra Ether ETF in the 1st quarter valued at $30,000. Finally, DRW Securities LLC raised its position in Ultra Ether ETF by 1,188.3% in the 4th quarter. DRW Securities LLC now owns 159,999 shares of the company’s stock valued at $6,013,000 after buying an additional 147,580 shares during the last quarter.

About Ultra Ether ETF

The ProShares Ultra Ether ETF (ETHT) is an exchange-traded fund that is based on the Bloomberg Ethereum index. The fund tracks 2x the daily price movements of an index that measures the price of Ether. It uses futures contracts to provide leveraged exposure without directly investing in Ether. ETHT was launched on Jun 7, 2024 and is issued by ProShares.