iShares Ethereum Trust ETF (NASDAQ:ETHA) Trading Down 7.7% – Here’s Why

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

The stock’s fifty day simple moving average is $30.15 and its 200-day simple moving average is $26.34.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Private Wealth Management Group LLC purchased a new stake in shares of iShares Ethereum Trust ETF in the 3rd quarter worth about $26,000. Atlantic Union Bankshares Corp acquired a new position in iShares Ethereum Trust ETF during the third quarter worth about $26,000. Activest Wealth Management lifted its holdings in shares of iShares Ethereum Trust ETF by 252.7% in the third quarter. Activest Wealth Management now owns 864 shares of the company’s stock valued at $27,000 after purchasing an additional 619 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of iShares Ethereum Trust ETF in the third quarter valued at approximately $31,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of iShares Ethereum Trust ETF during the 3rd quarter worth approximately $32,000.

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.