UltraShort Ether ETF (NYSEARCA:ETHD) Shares Shorted: Short Interest Down 45.1% in October

UltraShort Ether ETF (NYSEARCA:ETHD) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 64,594 shares, a decline of 45.1% from the September 30th total of 117,655 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average trading volume of 773,696 shares, the days-to-cover ratio is currently 0.1 days.

UltraShort Ether ETF Price Performance

Shares of ETHD stock traded up $2.86 on Friday, hitting $34.36. 1,258,630 shares of the company’s stock traded hands, compared to its average volume of 630,384. UltraShort Ether ETF has a one year low of $22.88 and a one year high of $106.80. The company’s fifty day simple moving average is $28.80 and its 200 day simple moving average is $55.93.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UltraShort Ether ETF stock. IMC Chicago LLC bought a new position in UltraShort Ether ETF (NYSEARCA:ETHD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,633 shares of the company’s stock, valued at approximately $1,675,000. IMC Chicago LLC owned about 1.65% of UltraShort Ether ETF as of its most recent filing with the Securities & Exchange Commission.

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.