Bitwise Ethereum ETF (NYSEARCA:ETHW) Sees Significant Increase in Short Interest

Bitwise Ethereum ETF (NYSEARCA:ETHW) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 480,997 shares, a growth of 100.3% from the April 30th total of 240,137 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 708,594 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Bitwise Ethereum ETF

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of Bitwise Ethereum ETF by 541.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,194 shares of the company’s stock valued at $25,000 after purchasing an additional 1,008 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Bitwise Ethereum ETF during the 4th quarter valued at $32,000. Lodestone Wealth Management LLC purchased a new stake in shares of Bitwise Ethereum ETF during the 4th quarter valued at $37,000. Sankala Group LLC purchased a new stake in shares of Bitwise Ethereum ETF during the 4th quarter valued at $55,000. Finally, Center for Financial Planning Inc. purchased a new stake in shares of Bitwise Ethereum ETF during the 1st quarter valued at $39,000.

Bitwise Ethereum ETF Trading Down 0.7%

Shares of Bitwise Ethereum ETF stock traded down $0.10 during trading hours on Monday, hitting $14.32. 893,112 shares of the company’s stock traded hands, compared to its average volume of 1,386,295. Bitwise Ethereum ETF has a 12-month low of $12.91 and a 12-month high of $34.84. The company has a fifty day simple moving average of $15.76 and a 200-day simple moving average of $18.03.

About Bitwise Ethereum ETF

The Bitwise Ethereum ETF (ETHW) 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 price performance of spot Ether (ETH). It will hold Ether directly, secured through a multi-layer cold storage wallet. ETHW was launched on Jul 22, 2024 and is issued by Bitwise.