2x Ether ETF (BATS:ETHU) Stock Price Down 7.1% – Time to Sell?

2x Ether ETF (BATS:ETHU) dropped 7.1% on Thursday . The stock traded as low as $20.53 and last traded at $21.65. Approximately 5,171,138 shares traded hands during trading, a decline of 30% from the average daily volume of 7,374,510 shares. The stock had previously closed at $23.31.

2x Ether ETF Stock Performance

The stock has a 50-day moving average price of $26.67 and a 200 day moving average price of $66.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETHU. Farther Finance Advisors LLC purchased a new stake in shares of 2x Ether ETF in the 3rd quarter valued at approximately $28,000. Beaumont Financial Advisors LLC purchased a new stake in shares of 2x Ether ETF during the 3rd quarter worth $376,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of 2x Ether ETF during the 3rd quarter worth $690,000. FNY Investment Advisers LLC acquired a new position in shares of 2x Ether ETF during the third quarter worth $844,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of 2x Ether ETF during the second quarter worth $2,071,000.

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.