2x Ether ETF (NYSEARCA:ETHU) Shares Gap Up – Should You Buy?

2x Ether ETF (NYSEARCA:ETHU)’s share price gapped up prior to trading on Friday . The stock had previously closed at $19.36, but opened at $21.30. 2x Ether ETF shares last traded at $21.72, with a volume of 3,407,373 shares changing hands.

2x Ether ETF Trading Up 21.0%

The business’s fifty day simple moving average is $54.48 and its 200 day simple moving average is $97.95.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Flow Traders U.S. LLC acquired a new position in 2x Ether ETF during the 2nd quarter worth $2,071,000. Jump Financial LLC acquired a new position in shares of 2x Ether ETF during the second quarter valued at $5,094,000. Farther Finance Advisors LLC bought a new position in 2x Ether ETF in the third quarter valued at about $28,000. Kingswood Wealth Advisors LLC acquired a new stake in 2x Ether ETF in the third quarter worth about $690,000. Finally, Beaumont Financial Advisors LLC bought a new stake in 2x Ether ETF during the 3rd quarter worth about $376,000.

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.