iShares Ethereum Trust ETF (NASDAQ:ETHA) Stock Price Down 7.7% – Should You Sell?

iShares Ethereum Trust ETF (NASDAQ:ETHA) shares were down 7.7% during trading on Wednesday . The company traded as low as $21.67 and last traded at $21.78. Approximately 54,617,586 shares traded 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 Performance

The business has a 50 day moving average of $30.15 and a 200 day moving average of $26.34.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

Several institutional investors and hedge funds have recently modified their holdings of the company. Schonfeld Strategic Advisors LLC boosted its position in iShares Ethereum Trust ETF by 141.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 10,712,591 shares of the company’s stock worth $337,554,000 after acquiring an additional 6,283,778 shares during the last quarter. Capula Management Ltd grew its position in shares of iShares Ethereum Trust ETF by 65.6% in the third quarter. Capula Management Ltd now owns 8,868,485 shares of the company’s stock valued at $279,446,000 after purchasing an additional 3,513,685 shares during the period. Farallon Capital Management LLC acquired a new position in iShares Ethereum Trust ETF in the third quarter valued at $234,773,000. Jane Street Group LLC grew its holdings in 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 valued at $42,180,000 after buying an additional 2,764,987 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new stake in iShares Ethereum Trust ETF in the second quarter valued at approximately $28,605,000.

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.