iShares Ethereum Trust ETF (NASDAQ:ETHA) Stock Price Down 4.8% – Should You Sell?

iShares Ethereum Trust ETF (NASDAQ:ETHA) shares dropped 4.8% during trading on Thursday . The company traded as low as $15.21 and last traded at $15.39. Approximately 12,894,172 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 43,411,328 shares. The stock had previously closed at $16.16.

iShares Ethereum Trust ETF Stock Performance

The company’s 50-day simple moving average is $16.21 and its 200-day simple moving average is $22.82.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

Large investors have recently made changes to their positions in the company. Galaxy Group Investments LLC boosted its stake in iShares Ethereum Trust ETF by 158.9% in the 4th quarter. Galaxy Group Investments LLC now owns 555,890 shares of the company’s stock valued at $12,469,000 after purchasing an additional 1,500,000 shares during the period. Purpose Unlimited Inc. acquired a new position in iShares Ethereum Trust ETF in the 4th quarter valued at $156,000. ARP Global Capital Ltd bought a new position in iShares Ethereum Trust ETF during the 4th quarter worth $10,766,000. Corient Private Wealth LLC increased its position in iShares Ethereum Trust ETF by 35.5% during the 4th quarter. Corient Private Wealth LLC now owns 64,389 shares of the company’s stock worth $1,444,000 after buying an additional 16,857 shares during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of iShares Ethereum Trust ETF during the fourth quarter worth $631,000.

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.