UltraShort Ether ETF (NYSEARCA:ETHD) Shares Down 0.5% – Here’s What Happened

UltraShort Ether ETF (NYSEARCA:ETHD) shares dropped 0.5% on Thursday . The stock traded as low as $71.90 and last traded at $72.54. 113,994 shares were traded during trading, a decline of 82% from the average daily volume of 646,123 shares. The stock had previously closed at $72.92.

UltraShort Ether ETF Stock Down 4.7%

The stock has a 50 day simple moving average of $71.11 and a 200 day simple moving average of $64.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETHD. StoneX Group Inc. bought a new position in UltraShort Ether ETF during the 2nd quarter worth $156,000. Group One Trading LLC bought a new stake in UltraShort Ether ETF in the third quarter valued at $172,000. Susquehanna International Group LLP boosted its holdings 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 acquiring an additional 25,540 shares during the period. Flow Traders U.S. LLC acquired a new position in shares of UltraShort Ether ETF during the third quarter valued at $901,000. Finally, Jane Street Group LLC grew its position in shares of UltraShort Ether ETF by 184.2% during the second quarter. Jane Street Group LLC now owns 79,137 shares of the company’s stock worth $1,183,000 after acquiring an additional 51,295 shares during the last quarter.

About UltraShort Ether ETF

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.