Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Trading Up 5.8% – Here’s What Happened

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE)’s share price was up 5.8% during mid-day trading on Friday . The company traded as high as $20.89 and last traded at $20.8210. Approximately 2,200,728 shares changed hands during trading, a decline of 41% from the average session volume of 3,714,896 shares. The stock had previously closed at $19.68.

Grayscale Ethereum Trust ETF Stock Up 6.1%

The stock’s 50-day moving average price is $17.16 and its 200 day moving average price is $16.73. The company has a market cap of $2.10 billion, a P/E ratio of 2.06 and a beta of 2.59.

Grayscale Ethereum Trust ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, August 5th. Investors of record on Tuesday, August 4th were issued a $0.0217 dividend. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, August 4th.

Hedge Funds Weigh In On Grayscale Ethereum Trust ETF

A number of institutional investors have recently made changes to their positions in the business. Integrated Advisors Network LLC grew its holdings in Grayscale Ethereum Trust ETF by 142.7% in the 1st quarter. Integrated Advisors Network LLC now owns 358,249 shares of the company’s stock valued at $6,115,000 after buying an additional 210,612 shares during the last quarter. Verde Capital Management raised its stake in Grayscale Ethereum Trust ETF by 4.1% during the 1st quarter. Verde Capital Management now owns 164,312 shares of the company’s stock valued at $2,805,000 after purchasing an additional 6,493 shares during the last quarter. TRU Independence Asset Management 2 LLC raised its stake in Grayscale Ethereum Trust ETF by 44.4% during the 4th quarter. TRU Independence Asset Management 2 LLC now owns 50,917 shares of the company’s stock valued at $1,241,000 after purchasing an additional 15,665 shares during the last quarter. Surience Private Wealth LLC acquired a new stake in Grayscale Ethereum Trust ETF in the 1st quarter worth $1,109,000. Finally, Aristides Capital LLC bought a new position in shares of Grayscale Ethereum Trust ETF during the 4th quarter worth about $1,096,000.

Grayscale Ethereum Trust ETF Company Profile

Grayscale Ethereum Staking ETF (ETHE) is an exchange-traded fund designed to provide exposure to Ether (ETH), with shares intended to reflect the value of the fund’s ETH holdings, minus fees and expenses. The fund may stake a portion of its Ether to seek additional returns through staking rewards, which can enhance total return but may also introduce additional risks and variability. ETHE is a commodity-based product and is not registered under the Investment Company Act of 1940.