Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Short Interest Up 153.3% in April

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 3,121,474 shares, an increase of 153.3% from the April 15th total of 1,232,189 shares. Based on an average daily volume of 2,575,741 shares, the days-to-cover ratio is presently 1.2 days. Approximately 3.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Grayscale Ethereum Trust ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Aristides Capital LLC raised its holdings in shares of Grayscale Ethereum Trust ETF by 12.9% in the 1st quarter. Aristides Capital LLC now owns 50,800 shares of the company’s stock valued at $867,000 after acquiring an additional 5,815 shares in the last quarter. Alesco Advisors LLC An ESL Co grew its holdings in shares of Grayscale Ethereum Trust ETF by 8.9% during the first quarter. Alesco Advisors LLC An ESL Co now owns 10,972 shares of the company’s stock worth $187,000 after purchasing an additional 900 shares in the last quarter. Independent Financial Group LLC bought a new position in shares of Grayscale Ethereum Trust ETF in the first quarter worth approximately $546,000. Fifth Third Bancorp bought a new position in shares of Grayscale Ethereum Trust ETF in the first quarter worth approximately $87,000. Finally, Simplicity Wealth LLC raised its stake in Grayscale Ethereum Trust ETF by 3.5% in the first quarter. Simplicity Wealth LLC now owns 40,057 shares of the company’s stock valued at $684,000 after purchasing an additional 1,372 shares in the last quarter.

Grayscale Ethereum Trust ETF Stock Performance

NYSEARCA ETHE traded down $0.62 during trading hours on Friday, hitting $18.00. The company had a trading volume of 1,659,373 shares, compared to its average volume of 4,885,253. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 2.06 and a beta of 2.73. Grayscale Ethereum Trust ETF has a 52 week low of $14.71 and a 52 week high of $40.13. The firm has a 50 day simple moving average of $17.96 and a 200 day simple moving average of $21.58.

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.