Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $17.56 and traded as low as $16.90. Grayscale Ethereum Trust ETF shares last traded at $17.03, with a volume of 2,202,711 shares traded.

Grayscale Ethereum Trust ETF Stock Performance

The company has a 50 day moving average price of $19.80 and a 200 day moving average price of $17.48. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 2.06 and a beta of 3.28.

Grayscale Ethereum Trust ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, November 4th. Investors of record on Tuesday, November 3rd were paid a dividend of $0.0246 per share. This is a decrease from Grayscale Ethereum Trust ETF’s previous monthly dividend of $0.0320. The ex-dividend date of this dividend was Tuesday, November 3rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.8%.

Institutional Investors Weigh In On Grayscale Ethereum Trust ETF

Hedge funds have recently added to or reduced their stakes in the company. Surience Private Wealth LLC acquired a new position in shares of Grayscale Ethereum Trust ETF during the third quarter worth approximately $1,259,000. StoneX Group Inc. acquired a new stake in Grayscale Ethereum Trust ETF in the 3rd quarter valued at $816,000. Lido Advisors LLC grew its position in Grayscale Ethereum Trust ETF by 85.9% in the 3rd quarter. Lido Advisors LLC now owns 36,697 shares of the company’s stock valued at $786,000 after purchasing an additional 16,961 shares during the period. Kestra Advisory Services LLC grew its position in Grayscale Ethereum Trust ETF by 9.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 27,779 shares of the company’s stock valued at $595,000 after purchasing an additional 2,376 shares during the period. Finally, Private Advisor Group LLC increased its stake in Grayscale Ethereum Trust ETF by 9.7% during the 3rd quarter. Private Advisor Group LLC now owns 130,317 shares of the company’s stock valued at $2,793,000 after purchasing an additional 11,506 shares in the last quarter.

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.