Ultra Ether ETF (NYSEARCA:ETHT) Trading Down 0.8% – Here’s What Happened

Ultra Ether ETF (NYSEARCA:ETHT)’s stock price dropped 0.8% during mid-day trading on Thursday . The company traded as low as $10.33 and last traded at $10.52. 1,427,633 shares changed hands during trading, a decline of 28% from the average daily volume of 1,985,741 shares. The stock had previously closed at $10.60.

Ultra Ether ETF Stock Up 0.8%

The firm’s 50 day moving average is $9.56 and its 200-day moving average is $15.10.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in Ultra Ether ETF by 50.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the company’s stock worth $65,000 after acquiring an additional 546 shares during the last quarter. Bogart Wealth LLC acquired a new position in Ultra Ether ETF during the 1st quarter worth about $30,000. Integrated Wealth Concepts LLC bought a new stake in shares of Ultra Ether ETF during the third quarter valued at approximately $282,000. Group One Trading LLC boosted its position in Ultra Ether ETF by 868.2% in the 2nd quarter. Group One Trading LLC now owns 7,610 shares of the company’s stock valued at $300,000 after buying an additional 6,824 shares during the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in Ultra Ether ETF in the first quarter valued at about $175,000.

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.