UltraShort Ether ETF (NYSEARCA:ETHD) Stock Price Up 0.5% – Time to Buy?

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

UltraShort Ether ETF Price Performance

The business has a 50-day moving average price of $73.20 and a 200-day moving average price of $66.54.

Institutional Investors Weigh In On UltraShort Ether ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. StoneX Group Inc. acquired a new stake in UltraShort Ether ETF in the 2nd quarter valued at approximately $156,000. Group One Trading LLC purchased a new position in shares of UltraShort Ether ETF during the third quarter worth $172,000. Susquehanna International Group LLP grew 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 valued at $498,000 after buying an additional 25,540 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of UltraShort Ether ETF in the third quarter valued at $901,000. Finally, Jane Street Group LLC raised its holdings 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 buying an additional 51,295 shares during the period.

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.