iShares Ethereum Trust ETF (NASDAQ:ETHA) Sees Large Drop in Short Interest

iShares Ethereum Trust ETF (NASDAQ:ETHA) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 11,853,862 shares, a drop of 55.7% from the September 30th total of 26,735,043 shares. Based on an average daily volume of 11,758,642 shares, the days-to-cover ratio is presently 1.0 days. Approximately 8.1% of the shares of the company are short sold.

iShares Ethereum Trust ETF Trading Down 4.5%

Shares of iShares Ethereum Trust ETF stock traded down $2.36 on Friday, reaching $50.42. 12,636,979 shares of the stock were exchanged, compared to its average volume of 11,949,246. iShares Ethereum Trust ETF has a twelve month low of $34.57 and a twelve month high of $88.59. The business has a 50 day moving average price of $56.70 and a two-hundred day moving average price of $49.81.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

Institutional investors have recently bought and sold shares of the business. Compass Financial Management LLC purchased a new position in shares of iShares Ethereum Trust ETF in the 2nd quarter valued at about $528,000. NEOS Investment Management LLC boosted its position in iShares Ethereum Trust ETF by 93.0% during the second quarter. NEOS Investment Management LLC now owns 1,277,512 shares of the company’s stock worth $15,190,000 after purchasing an additional 615,600 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in iShares Ethereum Trust ETF by 39.0% during the second quarter. Integrated Wealth Concepts LLC now owns 332,526 shares of the company’s stock worth $3,954,000 after purchasing an additional 93,308 shares in the last quarter. Venture Visionary Partners LLC purchased a new position in iShares Ethereum Trust ETF during the third quarter worth approximately $760,000. Finally, FSA Investment Group LLC acquired a new stake in iShares Ethereum Trust ETF in the third quarter valued at approximately $855,000.

About iShares Ethereum Trust ETF

The iShares Ethereum Trust ETF (ETHA) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is a passively managed fund that seeks to track the spot price of Ether, less expenses and fees. ETHA was launched on Jul 24, 2024 and is issued by BlackRock.