Short Interest in iShares Staked Ethereum Trust ETF (NASDAQ:ETHB) Expands By 391.4%

iShares Staked Ethereum Trust ETF (NASDAQ:ETHB) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 403,916 shares, a growth of 391.4% from the May 14th total of 82,205 shares. Approximately 7.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 357,646 shares, the days-to-cover ratio is presently 1.1 days.

iShares Staked Ethereum Trust ETF Price Performance

NASDAQ ETHB traded down $0.22 during trading on Friday, hitting $21.41. 171,793 shares of the stock traded hands, compared to its average volume of 487,292. The company has a 50-day moving average of $27.42. iShares Staked Ethereum Trust ETF has a 12-month low of $19.83 and a 12-month high of $31.72.

iShares Staked Ethereum Trust ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Monday, June 8th were issued a dividend of $0.0152 per share. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, June 8th.

iShares Staked Ethereum Trust ETF (NASDAQ: ETHB) is an exchange-traded fund offered under the iShares brand of BlackRock. Listed on the Nasdaq, the fund is structured to provide investors with exposure to Ether that is participating in the Ethereum proof-of-stake protocol, commonly referred to as “staked” Ethereum. As an ETF, ETHB is intended to offer access to cryptocurrency exposure through a familiar, regulated investment vehicle that can be bought and sold in brokerage accounts.

The fund’s strategy is focused on capturing the economic exposure associated with staked Ether, which can include the underlying price movements of Ether as well as staking rewards generated by validating network activity.