iShares Ethereum Trust ETF (NASDAQ:ETHA) Shares Down 13.9% – Here’s Why

iShares Ethereum Trust ETF (NASDAQ:ETHA) shares were down 13.9% during trading on Monday . The company traded as low as $13.69 and last traded at $14.05. Approximately 18,714,379 shares traded hands during trading, an increase of 81% from the average daily volume of 10,348,480 shares. The stock had previously closed at $16.31.

iShares Ethereum Trust ETF Trading Down 3.7 %

The stock has a 50-day moving average of $21.72 and a 200 day moving average of $21.98.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in ETHA. PNC Financial Services Group Inc. purchased a new position in iShares Ethereum Trust ETF in the fourth quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new position in shares of iShares Ethereum Trust ETF during the 4th quarter valued at $34,000. Highline Wealth Partners LLC bought a new position in shares of iShares Ethereum Trust ETF during the 4th quarter worth $37,000. Tucker Asset Management LLC raised its stake in iShares Ethereum Trust ETF by 10,742.9% in the 4th quarter. Tucker Asset Management LLC now owns 1,518 shares of the company’s stock valued at $38,000 after acquiring an additional 1,504 shares during the period. Finally, Copia Wealth Management purchased a new stake in iShares Ethereum Trust ETF during the fourth quarter valued at about $41,000.

iShares Ethereum Trust ETF Company Profile

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.