Ultra Ether ETF (NYSEARCA:ETHT) Shares Up 13.5% – Should You Buy?

Ultra Ether ETF (NYSEARCA:ETHT) shares were up 13.5% on Friday . The stock traded as high as $15.87 and last traded at $15.48. Approximately 2,109,180 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 2,070,865 shares. The stock had previously closed at $13.64.

Ultra Ether ETF Stock Up 13.5%

The stock’s fifty day moving average price is $34.86 and its 200 day moving average price is $65.57.

Ultra Ether ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, February 2nd were given a dividend of $0.0201 per share. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its holdings in Ultra Ether ETF by 50.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the company’s stock worth $65,000 after acquiring an additional 546 shares during the period. Mutual Advisors LLC raised its holdings in Ultra Ether ETF by 6.5% in the 3rd quarter. Mutual Advisors LLC now owns 20,747 shares of the company’s stock valued at $1,867,000 after acquiring an additional 1,267 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in Ultra Ether ETF during the third quarter worth $230,000. 180 Wealth Advisors LLC purchased a new stake in shares of Ultra Ether ETF in the third quarter valued at about $231,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Ultra Ether ETF during the 3rd quarter worth approximately $282,000.

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.