2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Here’s What Happened

2x Ether ETF (NYSEARCA:ETHU) gapped up prior to trading on Wednesday . The stock had previously closed at $54.23, but opened at $56.17. 2x Ether ETF shares last traded at $54.96, with a volume of 1,024,753 shares traded.

2x Ether ETF Trading Up 0.9%

The stock’s 50-day moving average is $67.91 and its 200 day moving average is $100.89.

Institutional Trading of 2x Ether ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC purchased a new stake in shares of 2x Ether ETF during the 2nd quarter worth about $5,094,000. Flow Traders U.S. LLC bought a new position in 2x Ether ETF during the second quarter valued at approximately $2,071,000. FNY Investment Advisers LLC acquired a new stake in 2x Ether ETF in the third quarter valued at approximately $844,000. Kingswood Wealth Advisors LLC bought a new stake in 2x Ether ETF in the third quarter worth approximately $690,000. Finally, Silverleafe Capital Partners LLC acquired a new position in shares of 2x Ether ETF during the 2nd quarter worth $223,000.

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.