Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Trading Up 6.2% – Still a Buy?

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE)’s share price rose 6.2% during mid-day trading on Friday . The company traded as high as $20.93 and last traded at $21.0250. Approximately 1,453,803 shares changed hands during trading, a decline of 60% from the average session volume of 3,664,754 shares. The stock had previously closed at $19.79.

Grayscale Ethereum Trust ETF Stock Up 3.7%

The business’s fifty day moving average is $16.59 and its 200-day moving average is $16.59. The company has a market cap of $2.06 billion, a PE ratio of 2.06 and a beta of 2.59.

Grayscale Ethereum Trust ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Tuesday, August 4th were paid a $0.0217 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, August 4th.

Hedge Funds Weigh In On Grayscale Ethereum Trust ETF

Several institutional investors and hedge funds have recently bought and sold shares of ETHE. DRW Securities LLC purchased a new position in shares of Grayscale Ethereum Trust ETF in the 4th quarter worth approximately $12,338,000. Integrated Advisors Network LLC boosted its position in Grayscale Ethereum Trust ETF by 142.7% during the first quarter. Integrated Advisors Network LLC now owns 358,249 shares of the company’s stock worth $6,115,000 after purchasing an additional 210,612 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Grayscale Ethereum Trust ETF in the third quarter worth approximately $5,422,000. Halter Ferguson Financial Inc. acquired a new stake in Grayscale Ethereum Trust ETF during the fourth quarter worth about $1,837,000. Finally, Surience Private Wealth LLC acquired a new position in shares of Grayscale Ethereum Trust ETF in the 1st quarter worth approximately $1,109,000.

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.