Bitwise Ethereum ETF (NYSEARCA:ETHW – Get Free Report) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 302,850 shares, a decrease of 37.0% from the May 14th total of 480,997 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 646,639 shares, the days-to-cover ratio is presently 0.5 days.
Institutional Investors Weigh In On Bitwise Ethereum ETF
A number of hedge funds and other institutional investors have recently bought and sold shares of ETHW. EverSource Wealth Advisors LLC grew its holdings in Bitwise Ethereum ETF by 541.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,194 shares of the company’s stock worth $25,000 after purchasing an additional 1,008 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Bitwise Ethereum ETF during the fourth quarter valued at approximately $32,000. Lodestone Wealth Management LLC purchased a new stake in shares of Bitwise Ethereum ETF during the fourth quarter valued at approximately $37,000. Center for Financial Planning Inc. purchased a new stake in shares of Bitwise Ethereum ETF during the first quarter valued at approximately $39,000. Finally, Sankala Group LLC purchased a new stake in shares of Bitwise Ethereum ETF during the fourth quarter valued at approximately $55,000.
Bitwise Ethereum ETF Price Performance
ETHW traded down $0.21 during midday trading on Tuesday, reaching $12.83. The company’s stock had a trading volume of 419,790 shares, compared to its average volume of 1,335,289. Bitwise Ethereum ETF has a 1 year low of $11.03 and a 1 year high of $34.84. The stock’s 50-day moving average is $15.20 and its 200-day moving average is $17.30.
Bitwise Ethereum ETF Company Profile
The Bitwise Ethereum ETF (ETHW) 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 price performance of spot Ether (ETH). It will hold Ether directly, secured through a multi-layer cold storage wallet. ETHW was launched on Jul 22, 2024 and is issued by Bitwise.
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