UltraShort Ether ETF (NYSEARCA:ETHD) Shares Up 3.9% – Still a Buy?

UltraShort Ether ETF (NYSEARCA:ETHD)’s stock price traded up 3.9% during trading on Tuesday . The company traded as high as $63.68 and last traded at $62.93. 484,303 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 902,800 shares. The stock had previously closed at $60.57.

UltraShort Ether ETF Price Performance

The firm’s 50 day simple moving average is $68.21 and its two-hundred day simple moving average is $52.24.

UltraShort Ether ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were issued a $1.514 dividend. This is an increase from UltraShort Ether ETF’s previous monthly dividend of $0.15. This represents a c) annualized dividend and a dividend yield of 28.9%. The ex-dividend date was Monday, March 2nd.

Institutional Investors Weigh In On UltraShort Ether ETF

Several institutional investors have recently bought and sold shares of the stock. StoneX Group Inc. bought a new position in UltraShort Ether ETF during the 2nd quarter worth approximately $156,000. Group One Trading LLC bought a new stake in UltraShort Ether ETF in the third quarter valued at approximately $172,000. Susquehanna International Group LLP boosted its stake in shares of UltraShort Ether ETF by 23.3% during the third quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock valued at $498,000 after purchasing an additional 25,540 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of UltraShort Ether ETF during the third quarter valued at approximately $901,000. Finally, Jane Street Group LLC grew its holdings in shares of UltraShort Ether ETF by 184.2% in the second quarter. Jane Street Group LLC now owns 79,137 shares of the company’s stock worth $1,183,000 after purchasing an additional 51,295 shares during the last quarter.

UltraShort Ether ETF Company Profile

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.