Bitwise Ethereum ETF (NYSEARCA:ETHW) Short Interest Down 37.0% in May

Bitwise Ethereum ETF (NYSEARCA:ETHW) 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 the business. Keel Point LLC grew its holdings in Bitwise Ethereum ETF by 82.7% in the first quarter. Keel Point LLC now owns 37,659 shares of the company’s stock worth $565,000 after purchasing an additional 17,041 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Bitwise Ethereum ETF by 81.2% in the first quarter. EverSource Wealth Advisors LLC now owns 2,164 shares of the company’s stock worth $32,000 after purchasing an additional 970 shares during the period. Lido Advisors LLC purchased a new stake in Bitwise Ethereum ETF in the first quarter worth about $1,070,000. Sanctuary Advisors LLC grew its holdings in Bitwise Ethereum ETF by 40.7% in the first quarter. Sanctuary Advisors LLC now owns 33,478 shares of the company’s stock worth $502,000 after purchasing an additional 9,681 shares during the period. Finally, Center for Financial Planning Inc. bought a new position in Bitwise Ethereum ETF in the 1st quarter worth about $39,000.

Bitwise Ethereum ETF Price Performance

ETHW traded down $0.20 during midday trading on Wednesday, reaching $12.63. The company’s stock had a trading volume of 192,342 shares, compared to its average volume of 1,325,084. 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 $15.16 and its 200-day moving average is $17.24.

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.