iShares Ethereum Trust ETF (NASDAQ:ETHA) Trading Down 3.8% – Here’s Why

iShares Ethereum Trust ETF (NASDAQ:ETHA)’s stock price dropped 3.8% on Thursday . The stock traded as low as $21.92 and last traded at $22.01. Approximately 12,340,199 shares were traded during trading, a decline of 69% from the average daily volume of 39,751,164 shares. The stock had previously closed at $22.88.

iShares Ethereum Trust ETF Stock Performance

The business has a 50 day moving average of $23.07 and a 200-day moving average of $27.64.

Institutional Investors Weigh In On iShares Ethereum Trust ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC bought a new position in iShares Ethereum Trust ETF during the 4th quarter worth about $612,000. Whitaker Myers Wealth Managers LTD. acquired a new position in shares of iShares Ethereum Trust ETF during the fourth quarter worth about $1,546,000. Fiduciary Alliance LLC grew its holdings in iShares Ethereum Trust ETF by 12.7% during the fourth quarter. Fiduciary Alliance LLC now owns 289,709 shares of the company’s stock worth $6,498,000 after purchasing an additional 32,594 shares during the period. BIP Wealth LLC acquired a new position in iShares Ethereum Trust ETF during the fourth quarter worth approximately $880,000. Finally, Perfromance Wealth Partners LLC raised its stake in iShares Ethereum Trust ETF by 23.3% in the fourth quarter. Perfromance Wealth Partners LLC now owns 14,390 shares of the company’s stock valued at $323,000 after buying an additional 2,720 shares during the period.

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.