Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Shares Gap Down – What’s Next?

Shares of Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) gapped down before the market opened on Tuesday . The stock had previously closed at $13.13, but opened at $12.60. Grayscale Ethereum Trust ETF shares last traded at $12.63, with a volume of 415,921 shares changing hands.

Grayscale Ethereum Trust ETF Price Performance

The stock has a fifty day simple moving average of $16.30 and a 200-day simple moving average of $18.89. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 2.06 and a beta of 2.46.

Hedge Funds Weigh In On Grayscale Ethereum Trust ETF

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in shares of Grayscale Ethereum Trust ETF by 5.6% in the 1st quarter. NewEdge Advisors LLC now owns 37,879 shares of the company’s stock valued at $647,000 after purchasing an additional 2,014 shares during the period. Western Wealth Management LLC acquired a new stake in Grayscale Ethereum Trust ETF during the first quarter valued at $68,000. Arkadios Wealth Advisors increased its holdings in Grayscale Ethereum Trust ETF by 2.5% in the first quarter. Arkadios Wealth Advisors now owns 42,956 shares of the company’s stock valued at $733,000 after buying an additional 1,065 shares in the last quarter. Quantinno Capital Management LP purchased a new position in Grayscale Ethereum Trust ETF in the first quarter valued at $172,000. Finally, Aristides Capital LLC increased its holdings in Grayscale Ethereum Trust ETF by 12.9% in the first quarter. Aristides Capital LLC now owns 50,800 shares of the company’s stock valued at $867,000 after buying an additional 5,815 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.