Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Trading Up 6.2% – Time to Buy?

Shares of Grayscale Ethereum Trust ETF (NYSEARCA:ETHEGet Free Report) were up 6.2% during trading on Friday . The company traded as high as $20.93 and last traded at $21.0250. 1,453,803 shares traded hands during trading, a decline of 60% from the average session volume of 3,664,754 shares. The stock had previously closed at $19.79.

Grayscale Ethereum Trust ETF Price Performance

The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 2.06 and a beta of 2.59. The stock has a 50 day simple moving average of $16.59 and a two-hundred day simple moving average of $16.59.

Grayscale Ethereum Trust ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Tuesday, August 4th were paid a $0.0217 dividend. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, August 4th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. lifted its stake in shares of Grayscale Ethereum Trust ETF by 2.3% in the second quarter. Brown Advisory Inc. now owns 18,833 shares of the company’s stock worth $393,000 after acquiring an additional 417 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Grayscale Ethereum Trust ETF by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,794 shares of the company’s stock worth $678,000 after purchasing an additional 481 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Grayscale Ethereum Trust ETF by 2.0% in the second quarter. NewEdge Advisors LLC now owns 35,281 shares of the company’s stock valued at $736,000 after purchasing an additional 680 shares during the period. Beacon Pointe Advisors LLC raised its holdings in shares of Grayscale Ethereum Trust ETF by 1.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 53,713 shares of the company’s stock valued at $1,309,000 after buying an additional 793 shares during the last quarter. Finally, Alesco Advisors LLC An ESL Co boosted its position in shares of Grayscale Ethereum Trust ETF by 8.9% during the first quarter. Alesco Advisors LLC An ESL Co now owns 10,972 shares of the company’s stock worth $187,000 after buying an additional 900 shares during the period.

Grayscale Ethereum Trust ETF Company Profile

(Get Free Report)

Grayscale Ethereum Staking ETF (ETHE) is an exchange-traded fund designed to provide exposure to Ether (ETH), with shares intended to reflect the value of the fund’s ETH holdings, minus fees and expenses. The fund may stake a portion of its Ether to seek additional returns through staking rewards, which can enhance total return but may also introduce additional risks and variability. ETHE is a commodity-based product and is not registered under the Investment Company Act of 1940.

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