iShares Ethereum Trust ETF (NASDAQ:ETHA) Trading Down 7.7% – Here’s What Happened

Shares of iShares Ethereum Trust ETF (NASDAQ:ETHA) were down 7.7% during mid-day trading on Wednesday . The stock traded as low as $21.67 and last traded at $21.78. Approximately 54,617,586 shares changed hands during trading, an increase of 85% from the average daily volume of 29,597,852 shares. The stock had previously closed at $23.59.

iShares Ethereum Trust ETF Stock Down 3.3%

The firm’s 50 day moving average is $29.41 and its two-hundred day moving average is $26.33.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

A number of hedge funds have recently made changes to their positions in ETHA. Ridgewood Investments LLC raised its stake in iShares Ethereum Trust ETF by 101.6% during the first quarter. Ridgewood Investments LLC now owns 2,685 shares of the company’s stock worth $37,000 after buying an additional 1,353 shares during the last quarter. Brookstone Capital Management grew its holdings in iShares Ethereum Trust ETF by 7.6% during the 2nd quarter. Brookstone Capital Management now owns 18,297 shares of the company’s stock worth $349,000 after acquiring an additional 1,291 shares during the period. Freestone Capital Holdings LLC raised its position in shares of iShares Ethereum Trust ETF by 46.5% in the 2nd quarter. Freestone Capital Holdings LLC now owns 36,787 shares of the company’s stock worth $702,000 after acquiring an additional 11,680 shares in the last quarter. MGO One Seven LLC lifted its stake in shares of iShares Ethereum Trust ETF by 16.3% in the 2nd quarter. MGO One Seven LLC now owns 24,726 shares of the company’s stock valued at $472,000 after purchasing an additional 3,460 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of iShares Ethereum Trust ETF by 58.5% in the 2nd quarter. Parallel Advisors LLC now owns 14,372 shares of the company’s stock valued at $274,000 after purchasing an additional 5,305 shares during the period.

About iShares Ethereum Trust ETF

The iShares Ethereum Trust ETF (ETHA) 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 spot price of Ether, less expenses and fees. ETHA was launched on Jul 24, 2024 and is issued by BlackRock.