UltraShort Ether ETF (NYSEARCA:ETHD) Trading Down 6.3% – Time to Sell?

UltraShort Ether ETF (NYSEARCA:ETHD)’s share price fell 6.3% during mid-day trading on Thursday . The stock traded as low as $85.00 and last traded at $86.11. 345,672 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 701,526 shares. The stock had previously closed at $91.92.

UltraShort Ether ETF Stock Down 6.3%

The firm’s fifty day moving average price is $59.64 and its 200-day moving average price is $60.11.

Institutional Trading of UltraShort Ether ETF

A number of large investors have recently added to or reduced their stakes in ETHD. Jane Street Group LLC boosted its holdings in UltraShort Ether ETF by 23.5% during the first quarter. Jane Street Group LLC now owns 27,842 shares of the company’s stock worth $1,510,000 after buying an additional 5,298 shares in the last quarter. StoneX Group Inc. bought a new stake in UltraShort Ether ETF during the second quarter worth approximately $156,000. Group One Trading LLC bought a new stake in UltraShort Ether ETF during the third quarter worth approximately $172,000. Flow Traders U.S. LLC bought a new stake in UltraShort Ether ETF during the third quarter worth approximately $901,000. Finally, Susquehanna International Group LLP boosted its holdings in UltraShort Ether ETF by 23.3% during the third quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock worth $498,000 after buying an additional 25,540 shares in the last quarter.

UltraShort Ether ETF Company Profile

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.