Ultra Ether ETF (NYSEARCA:ETHT) Shares Up 13.5% – Should You Buy?

Ultra Ether ETF (NYSEARCA:ETHT)’s stock price shot up 13.5% during mid-day trading on Friday . The company traded as high as $15.87 and last traded at $15.48. 2,109,180 shares traded hands during trading, an increase of 2% from the average session volume of 2,070,865 shares. The stock had previously closed at $13.64.

Ultra Ether ETF Stock Performance

The firm’s 50 day moving average price is $34.86 and its two-hundred day moving average price is $65.70.

Ultra Ether ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 6th. Stockholders of record on Monday, February 2nd were given a dividend of $0.0201 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, February 2nd.

Hedge Funds Weigh In On Ultra Ether ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in shares of Ultra Ether ETF by 50.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the company’s stock worth $65,000 after buying an additional 546 shares during the last quarter. Simplex Trading LLC lifted its stake in shares of Ultra Ether ETF by 226.3% in the 2nd quarter. Simplex Trading LLC now owns 4,885 shares of the company’s stock valued at $192,000 after acquiring an additional 3,388 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of Ultra Ether ETF during the 4th quarter valued at $210,000. Beaumont Financial Advisors LLC acquired a new stake in shares of Ultra Ether ETF during the 3rd quarter valued at $230,000. Finally, 180 Wealth Advisors LLC bought a new stake in Ultra Ether ETF during the 3rd quarter worth $231,000.

About Ultra Ether ETF

The ProShares Ultra Ether ETF (ETHT) 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 leveraged exposure without directly investing in Ether. ETHT was launched on Jun 7, 2024 and is issued by ProShares.