Ultra Ether ETF (NYSEARCA:ETHT) Stock Price Up 0.3% – Should You Buy?

Ultra Ether ETF (NYSEARCA:ETHT)’s share price rose 0.3% during mid-day trading on Friday . The company traded as high as $18.06 and last traded at $17.91. Approximately 1,692,523 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 2,160,018 shares. The stock had previously closed at $17.85.

Ultra Ether ETF Price Performance

The stock’s 50-day moving average price is $15.82 and its 200-day moving average price is $36.36.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. DRW Securities LLC lifted its position in shares of Ultra Ether ETF by 1,188.3% in the 4th quarter. DRW Securities LLC now owns 159,999 shares of the company’s stock worth $6,013,000 after buying an additional 147,580 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Ultra Ether ETF in the 4th quarter worth about $2,011,000. Marex Group plc bought a new position in shares of Ultra Ether ETF in the 4th quarter worth about $1,315,000. Avidian Wealth Enterprises LLC bought a new position in shares of Ultra Ether ETF in the 4th quarter worth about $1,101,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Ultra Ether ETF in the 4th quarter worth about $210,000.

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.