iShares Ethereum Trust ETF (NASDAQ:ETHA) Shares Gap Up – Here’s Why

iShares Ethereum Trust ETF (NASDAQ:ETHA) gapped up prior to trading on Friday . The stock had previously closed at $15.63, but opened at $16.49. iShares Ethereum Trust ETF shares last traded at $16.58, with a volume of 14,713,876 shares.

iShares Ethereum Trust ETF Price Performance

The company’s 50-day simple moving average is $18.52 and its 200-day simple moving average is $24.55.

Hedge Funds Weigh In On iShares Ethereum Trust ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETHA. Schonfeld Strategic Advisors LLC raised its stake in iShares Ethereum Trust ETF by 141.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 10,712,591 shares of the company’s stock valued at $337,554,000 after acquiring an additional 6,283,778 shares in the last quarter. Capula Management Ltd grew its stake in shares of iShares Ethereum Trust ETF by 65.6% in the third quarter. Capula Management Ltd now owns 8,868,485 shares of the company’s stock worth $279,446,000 after purchasing an additional 3,513,685 shares in the last quarter. Farallon Capital Management LLC acquired a new position in shares of iShares Ethereum Trust ETF during the third quarter valued at $234,773,000. Harvard Management Co. Inc. acquired a new position in shares of iShares Ethereum Trust ETF during the fourth quarter valued at $86,824,000. Finally, Macquarie Group Ltd. raised its stake in shares of iShares Ethereum Trust ETF by 182.4% during the fourth quarter. Macquarie Group Ltd. now owns 3,633,670 shares of the company’s stock valued at $81,503,000 after purchasing an additional 2,347,070 shares in the last quarter.

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.