UltraShort Ether ETF (NYSEARCA:ETHD) Shares Up 0.5% – What’s Next?

UltraShort Ether ETF (NYSEARCA:ETHD) shares rose 0.5% on Thursday . The stock traded as high as $58.10 and last traded at $57.04. Approximately 111,428 shares traded hands during trading, a decline of 81% from the average daily volume of 591,283 shares. The stock had previously closed at $56.75.

UltraShort Ether ETF Stock Performance

The business has a 50-day moving average price of $73.20 and a two-hundred day moving average price of $66.54.

Hedge Funds Weigh In On UltraShort Ether ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. StoneX Group Inc. purchased a new stake in shares of UltraShort Ether ETF during the second quarter worth approximately $156,000. Group One Trading LLC purchased a new position in UltraShort Ether ETF in the third quarter worth approximately $172,000. Susquehanna International Group LLP grew its holdings in UltraShort Ether ETF by 23.3% during the 3rd quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock worth $498,000 after acquiring an additional 25,540 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of UltraShort Ether ETF in the 3rd quarter valued at approximately $901,000. Finally, Jane Street Group LLC increased its position in shares of UltraShort Ether ETF by 184.2% in the 2nd quarter. Jane Street Group LLC now owns 79,137 shares of the company’s stock valued at $1,183,000 after purchasing an additional 51,295 shares during the last quarter.

About UltraShort Ether ETF

The ProShares UltraShort Ether ETF (ETHD) 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 inverse exposure without directly investing in Ether ETHD was launched on Jun 7, 2024 and is issued by ProShares.