UltraShort Ether ETF (NYSEARCA:ETHD) Trading 3.9% Higher – Here’s What Happened

Shares of UltraShort Ether ETF (NYSEARCA:ETHD) were up 3.9% during mid-day trading on Tuesday . The stock traded as high as $63.68 and last traded at $62.93. Approximately 484,303 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 902,800 shares. The stock had previously closed at $60.57.

UltraShort Ether ETF Stock Up 11.6%

The stock’s fifty day moving average is $69.20 and its 200-day moving average is $52.39.

UltraShort Ether ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were paid a dividend of $1.514 per share. This is a boost from UltraShort Ether ETF’s previous monthly dividend of $0.15. The ex-dividend date was Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 27.3%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. IMC Chicago LLC bought a new stake in UltraShort Ether ETF during the third quarter worth approximately $1,352,000. Flow Traders U.S. LLC bought a new position in shares of UltraShort Ether ETF in the third quarter valued at approximately $901,000. Susquehanna International Group LLP lifted its stake in shares of UltraShort Ether ETF by 23.3% in the third quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock worth $498,000 after buying an additional 25,540 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of UltraShort Ether ETF by 184.2% in the second quarter. Jane Street Group LLC now owns 79,137 shares of the company’s stock worth $1,183,000 after buying an additional 51,295 shares during the last quarter. Finally, Group One Trading LLC bought a new stake in shares of UltraShort Ether ETF during the 3rd quarter worth $172,000.

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.