iShares Ethereum Trust ETF (NASDAQ:ETHA) Shares Down 6.4% – Should You Sell?

iShares Ethereum Trust ETF (NASDAQ:ETHA) shares dropped 6.4% on Monday . The stock traded as low as $18.14 and last traded at $18.39. Approximately 2,836,710 shares traded hands during trading, a decline of 74% from the average daily volume of 10,845,049 shares. The stock had previously closed at $19.65.

iShares Ethereum Trust ETF Stock Down 3.5%

The stock’s 50 day moving average is $14.24 and its two-hundred day moving average is $20.31.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in iShares Ethereum Trust ETF by 156.2% during the 4th quarter. Millennium Management LLC now owns 4,165,254 shares of the company’s stock valued at $105,339,000 after purchasing an additional 2,539,619 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in iShares Ethereum Trust ETF during the 4th quarter worth $94,155,000. D. E. Shaw & Co. Inc. acquired a new position in iShares Ethereum Trust ETF during the 4th quarter worth $85,177,000. Jane Street Group LLC lifted its position in shares of iShares Ethereum Trust ETF by 963.1% in the 1st quarter. Jane Street Group LLC now owns 3,052,081 shares of the company’s stock worth $42,180,000 after buying an additional 2,764,987 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of iShares Ethereum Trust ETF in the 4th quarter worth about $65,632,000.

iShares Ethereum Trust ETF Company Profile

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.