UltraShort Ether ETF (NYSEARCA:ETHD) Trading Down 5.5% – Should You Sell?

UltraShort Ether ETF (NYSEARCA:ETHDGet Free Report) traded down 5.5% on Wednesday . The stock traded as low as $47.50 and last traded at $47.95. 482,717 shares were traded during mid-day trading, a decline of 43% from the average session volume of 844,996 shares. The stock had previously closed at $50.74.

UltraShort Ether ETF Price Performance

The company’s 50-day moving average is $70.95 and its two-hundred day moving average is $54.85.

UltraShort Ether ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were given a $1.514 dividend. This represents a c) annualized dividend and a yield of 37.9%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from UltraShort Ether ETF’s previous monthly dividend of $0.15.

Hedge Funds Weigh In On UltraShort Ether ETF

Several large investors have recently added to or reduced their stakes in ETHD. StoneX Group Inc. bought a new position in UltraShort Ether ETF in the 2nd quarter valued at about $156,000. Group One Trading LLC bought a new stake in shares of UltraShort Ether ETF in the 3rd quarter worth approximately $172,000. Susquehanna International Group LLP raised its holdings in shares of UltraShort Ether ETF by 23.3% in the 3rd quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock worth $498,000 after purchasing an additional 25,540 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of UltraShort Ether ETF in the 3rd quarter worth approximately $901,000. Finally, Jane Street Group LLC raised its holdings in shares of UltraShort Ether ETF by 184.2% in the 2nd 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 period.

About UltraShort Ether ETF

(Get Free Report)

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.

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