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

UltraShort Ether ETF (NYSEARCA:ETHD)’s share price dropped 0.5% on Thursday . The stock traded as low as $71.90 and last traded at $72.54. 113,994 shares changed hands during mid-day 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 Price Performance

The business’s 50-day simple moving average is $70.80 and its 200-day simple moving average is $64.40.

Hedge Funds Weigh In On UltraShort Ether ETF

A number of hedge funds have recently modified their holdings of ETHD. Renaissance Technologies LLC purchased a new stake in shares of UltraShort Ether ETF during the first quarter worth $1,453,000. IMC Chicago LLC purchased a new position in UltraShort Ether ETF in the first quarter valued at about $1,675,000. MYDA Advisors LLC purchased a new position in UltraShort Ether ETF in the fourth quarter valued at about $1,188,000. Susquehanna International Group LLP grew its stake in UltraShort Ether ETF by 23.3% in the third quarter. Susquehanna International Group LLP now owns 135,198 shares of the company’s stock valued at $498,000 after purchasing an additional 25,540 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in UltraShort Ether ETF in the 3rd quarter worth about $901,000.

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.