2x Ether ETF (NYSEARCA:ETHU) Trading Up 16% – Should You Buy?

Shares of 2x Ether ETF (NYSEARCA:ETHU) traded up 16% on Monday . The stock traded as high as $23.01 and last traded at $22.93. 4,632,364 shares were traded during trading, a decline of 35% from the average session volume of 7,085,077 shares. The stock had previously closed at $19.77.

2x Ether ETF Trading Up 13.2%

The stock’s 50-day simple moving average is $43.20 and its 200-day simple moving average is $86.63.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Flow Traders U.S. LLC acquired a new position in 2x Ether ETF in the second quarter valued at about $2,071,000. Jump Financial LLC bought a new position in 2x Ether ETF in the 2nd quarter valued at about $5,094,000. Farther Finance Advisors LLC acquired a new position in shares of 2x Ether ETF in the 3rd quarter valued at approximately $28,000. Kingswood Wealth Advisors LLC acquired a new position in shares of 2x Ether ETF in the 3rd quarter valued at approximately $690,000. Finally, Beaumont Financial Advisors LLC bought a new stake in shares of 2x Ether ETF during the 3rd quarter worth approximately $376,000.

2x Ether ETF Company Profile

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.