Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Sees Significant Increase in Short Interest

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 3,121,474 shares, a growth of 153.3% from the April 15th total of 1,232,189 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily volume of 2,575,741 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of Grayscale Ethereum Trust ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. grew its position in shares of Grayscale Ethereum Trust ETF by 2.3% during the 2nd quarter. Brown Advisory Inc. now owns 18,833 shares of the company’s stock worth $393,000 after buying an additional 417 shares during the period. Sound Income Strategies LLC grew its position in shares of Grayscale Ethereum Trust ETF by 33.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,822 shares of the company’s stock worth $49,000 after buying an additional 460 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Grayscale Ethereum Trust ETF by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,794 shares of the company’s stock worth $678,000 after buying an additional 481 shares during the period. PFG Investments LLC grew its position in shares of Grayscale Ethereum Trust ETF by 7.1% during the 4th quarter. PFG Investments LLC now owns 9,467 shares of the company’s stock worth $231,000 after buying an additional 624 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Grayscale Ethereum Trust ETF by 2.0% during the 2nd quarter. NewEdge Advisors LLC now owns 35,281 shares of the company’s stock worth $736,000 after buying an additional 680 shares during the period.

Grayscale Ethereum Trust ETF Stock Performance

NYSEARCA:ETHE traded down $0.60 on Friday, hitting $18.02. 2,890,105 shares of the stock were exchanged, compared to its average volume of 4,898,966. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 2.06 and a beta of 2.73. Grayscale Ethereum Trust ETF has a 52 week low of $14.71 and a 52 week high of $40.13. The company’s 50-day moving average price is $17.97 and its 200 day moving average price is $21.56.

About Grayscale Ethereum Trust ETF

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.