iShares Ethereum Trust ETF (NASDAQ:ETHA) Shares Gap Down – Time to Sell?

Shares of iShares Ethereum Trust ETF (NASDAQ:ETHA) gapped down before the market opened on Friday . The stock had previously closed at $15.17, but opened at $14.35. iShares Ethereum Trust ETF shares last traded at $14.23, with a volume of 1,958,152 shares trading hands.

iShares Ethereum Trust ETF Stock Down 6.7 %

The stock has a fifty day moving average of $18.94 and a 200 day moving average of $21.61.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of iShares Ethereum Trust ETF by 156.2% during the 4th quarter. Millennium Management LLC now owns 4,165,254 shares of the company’s stock valued at $105,339,000 after purchasing an additional 2,539,619 shares during the period. Brevan Howard Capital Management LP bought a new stake in iShares Ethereum Trust ETF during the fourth quarter valued at about $94,155,000. D. E. Shaw & Co. Inc. purchased a new position in shares of iShares Ethereum Trust ETF in the fourth quarter valued at about $85,177,000. Schonfeld Strategic Advisors LLC bought a new position in shares of iShares Ethereum Trust ETF in the fourth quarter worth about $65,632,000. Finally, SG Americas Securities LLC purchased a new stake in shares of iShares Ethereum Trust ETF during the fourth quarter worth about $49,847,000.

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.