Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Shares Gap Down – Should You Sell?

Shares of Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) gapped down prior to trading on Monday. The stock had previously closed at $17.83, but opened at $16.95. Grayscale Ethereum Trust ETF shares last traded at $16.9710, with a volume of 636,081 shares trading hands.

Grayscale Ethereum Trust ETF Stock Performance

The business’s 50-day moving average price is $19.98 and its 200 day moving average price is $17.60. The company has a market cap of $1.61 billion, a P/E ratio of 2.06 and a beta of 2.61.

Grayscale Ethereum Trust ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, November 4th. Stockholders of record on Tuesday, November 3rd were issued a $0.0246 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, November 3rd. This is a negative change from Grayscale Ethereum Trust ETF’s previous monthly dividend of $0.0320.

Institutional Investors Weigh In On Grayscale Ethereum Trust ETF

Several hedge funds have recently bought and sold shares of the company. Surience Private Wealth LLC bought a new position in Grayscale Ethereum Trust ETF during the third quarter worth about $1,259,000. PYA Waltman Capital LLC increased its position in Grayscale Ethereum Trust ETF by 5.2% during the second quarter. PYA Waltman Capital LLC now owns 50,759 shares of the company’s stock worth $648,000 after buying an additional 2,527 shares during the last quarter. Solstein Capital LLC raised its stake in Grayscale Ethereum Trust ETF by 615.2% in the second quarter. Solstein Capital LLC now owns 7,595 shares of the company’s stock valued at $97,000 after buying an additional 6,533 shares during the period. Ancora Advisors LLC bought a new stake in Grayscale Ethereum Trust ETF in the second quarter valued at approximately $130,000. Finally, NewEdge Advisors LLC raised its stake in Grayscale Ethereum Trust ETF by 5.6% in the first quarter. NewEdge Advisors LLC now owns 37,879 shares of the company’s stock valued at $647,000 after buying an additional 2,014 shares during the period.

Grayscale Ethereum Trust ETF Company Profile

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.