Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Shares Gap Down – Here’s Why

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) shares gapped down before the market opened 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 Down 3.3%

The company has a market cap of $1.40 billion, a P/E ratio of 2.06 and a beta of 3.28. The business has a fifty day moving average of $19.86 and a 200 day moving average of $17.52.

Grayscale Ethereum Trust ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, November 4th. Shareholders of record on Tuesday, November 3rd were given a dividend of $0.0246 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, November 3rd. This is a decrease from Grayscale Ethereum Trust ETF’s previous monthly dividend of $0.0320.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC lifted its position in shares of Grayscale Ethereum Trust ETF by 9.7% in the 3rd quarter. Private Advisor Group LLC now owns 130,317 shares of the company’s stock worth $2,793,000 after purchasing an additional 11,506 shares during the period. HighTower Advisors LLC increased its position in shares of Grayscale Ethereum Trust ETF by 3.9% during the third quarter. HighTower Advisors LLC now owns 40,587 shares of the company’s stock valued at $870,000 after buying an additional 1,530 shares during the period. Jacobi Capital Management LLC purchased a new position in shares of Grayscale Ethereum Trust ETF during the third quarter valued at about $82,000. Lido Advisors LLC increased its position in shares of Grayscale Ethereum Trust ETF by 85.9% during the third quarter. Lido Advisors LLC now owns 36,697 shares of the company’s stock valued at $786,000 after buying an additional 16,961 shares during the period. Finally, StoneX Group Inc. bought a new position in Grayscale Ethereum Trust ETF in the third quarter worth about $816,000.

About Grayscale Ethereum Trust ETF

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.