Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Sees Significant Growth in Short Interest

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 4,314,059 shares, a growth of 47.1% from the August 31st total of 2,931,801 shares. Based on an average daily volume of 3,575,538 shares, the days-to-cover ratio is currently 1.2 days. Approximately 4.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Grayscale Ethereum Trust ETF by 14.5% in the 2nd quarter. NewEdge Advisors LLC now owns 43,388 shares of the company’s stock worth $554,000 after purchasing an additional 5,509 shares during the period. Corient Private Wealth LP lifted its stake in Grayscale Ethereum Trust ETF by 8.0% in the 2nd quarter. Corient Private Wealth LP now owns 43,804 shares of the company’s stock worth $559,000 after purchasing an additional 3,250 shares in the last quarter. HB Wealth Management LLC boosted its stake in Grayscale Ethereum Trust ETF by 3.6% during the second quarter. HB Wealth Management LLC now owns 35,350 shares of the company’s stock valued at $451,000 after buying an additional 1,221 shares during the period. PYA Waltman Capital LLC boosted its position in shares of Grayscale Ethereum Trust ETF by 5.2% during the 2nd quarter. PYA Waltman Capital LLC now owns 50,759 shares of the company’s stock valued at $648,000 after acquiring an additional 2,527 shares during the last quarter. Finally, Solstein Capital LLC lifted its position in Grayscale Ethereum Trust ETF by 615.2% during the second quarter. Solstein Capital LLC now owns 7,595 shares of the company’s stock valued at $97,000 after purchasing an additional 6,533 shares during the last quarter.

Grayscale Ethereum Trust ETF Trading Up 1.2%

Grayscale Ethereum Trust ETF stock traded up $0.26 during trading on Thursday, hitting $21.69. 1,883,033 shares of the company were exchanged, compared to its average volume of 3,678,259. The company has a market capitalization of $2.05 billion, a P/E ratio of 2.06 and a beta of 2.59. The business’s 50 day moving average is $18.34 and its 200 day moving average is $17.04. Grayscale Ethereum Trust ETF has a 52 week low of $12.36 and a 52 week high of $39.17.

Grayscale Ethereum Trust ETF Cuts Dividend

The company also recently announced 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 $0.26 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, August 4th. This is a negative change from Grayscale Ethereum Trust ETF’s previous monthly dividend of $0.0219.

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.