Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Short Interest Update

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 4,314,059 shares, a growth of 47.1% from the August 31st total of 2,931,801 shares. Currently, 4.6% of the company’s shares are sold short. Based on an average daily volume of 3,575,538 shares, the days-to-cover ratio is currently 1.2 days.

Grayscale Ethereum Trust ETF Price Performance

Shares of NYSEARCA:ETHE traded down $0.08 during trading on Friday, reaching $21.61. 1,827,165 shares of the company were exchanged, compared to its average volume of 3,668,119. Grayscale Ethereum Trust ETF has a 12-month low of $12.36 and a 12-month high of $39.17. The firm has a market capitalization of $2.04 billion, a PE ratio of 2.06 and a beta of 2.52. The business’s fifty day simple moving average is $18.47 and its 200-day simple moving average is $17.07.

Grayscale Ethereum Trust ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Tuesday, August 4th were given a dividend of $0.0217 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 4th. This is a negative change from Grayscale Ethereum Trust ETF’s previous monthly dividend of $0.0219.

Hedge Funds Weigh In On Grayscale Ethereum Trust ETF

Several institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in shares of Grayscale Ethereum Trust ETF by 14.5% during the second quarter. NewEdge Advisors LLC now owns 43,388 shares of the company’s stock valued at $554,000 after purchasing an additional 5,509 shares in the last quarter. Corient Private Wealth LP grew its position in shares of Grayscale Ethereum Trust ETF by 8.0% in the 2nd quarter. Corient Private Wealth LP now owns 43,804 shares of the company’s stock worth $559,000 after buying an additional 3,250 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Grayscale Ethereum Trust ETF by 3.6% in the 2nd quarter. HB Wealth Management LLC now owns 35,350 shares of the company’s stock worth $451,000 after buying an additional 1,221 shares during the last quarter. PYA Waltman Capital LLC raised its stake in shares of Grayscale Ethereum Trust ETF by 5.2% during the 2nd quarter. PYA Waltman Capital LLC now owns 50,759 shares of the company’s stock worth $648,000 after acquiring an additional 2,527 shares in the last quarter. Finally, Solstein Capital LLC lifted its position in Grayscale Ethereum Trust ETF by 615.2% during the second quarter. Solstein Capital LLC now owns 7,595 shares of the company’s stock valued at $97,000 after acquiring an additional 6,533 shares during the last quarter.

About Grayscale Ethereum Trust ETF

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.