2x Ether ETF (NYSEARCA:ETHU) Trading Down 9.9% – Here’s What Happened

2x Ether ETF (NYSEARCA:ETHU) was down 9.9% on Friday . The stock traded as low as $19.80 and last traded at $19.85. Approximately 3,574,483 shares traded hands during trading, a decline of 50% from the average daily volume of 7,108,137 shares. The stock had previously closed at $22.03.

2x Ether ETF Stock Down 10.4%

The firm has a 50 day moving average price of $43.93 and a 200-day moving average price of $88.80.

Institutional Investors Weigh In On 2x Ether ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in shares of 2x Ether ETF in the 3rd quarter worth about $28,000. Beaumont Financial Advisors LLC bought a new position in shares of 2x Ether ETF during the third quarter valued at approximately $376,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of 2x Ether ETF in the third quarter worth approximately $690,000. FNY Investment Advisers LLC bought a new stake in shares of 2x Ether ETF during the 3rd quarter worth approximately $844,000. Finally, Flow Traders U.S. LLC bought a new stake in shares of 2x Ether ETF during 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.