Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Shares Gap Down - Time to Sell?

Key Points

• Grayscale Ethereum Trust (ETH) shares experienced a significant gap down, opening at $32.46 compared to the previous close of $35.00.
• Several hedge funds increased their stakes, with DRW Securities LLC raising its position by 226.1% during the first quarter.
• The stock has a 50-day moving average of $35.71 and a 200-day moving average of $25.75, indicating fluctuations in price.

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE - ) gapped down prior to trading on Tuesday . The stock had previously closed at $35.00, but opened at $32.46. Grayscale Ethereum Trust (ETH) shares last traded at $32.52, with a volume of 2,088,980 shares trading hands.

Grayscale Ethereum Trust (ETH) Price Performance

The business has a 50-day simple moving average of $35.71 and a two-hundred day simple moving average of $25.75.

Hedge Funds Weigh In On Grayscale Ethereum Trust (ETH)

Several large investors have recently made changes to their positions in the company. DRW Securities LLC lifted its stake in shares of Grayscale Ethereum Trust (ETH) by 226.1% during the first quarter. DRW Securities LLC now owns 1,514,618 shares of the company's stock valued at $23,052,000 after acquiring an additional 1,050,147 shares during the period. StoneX Group Inc. lifted its stake in shares of Grayscale Ethereum Trust (ETH) by 510.5% during the second quarter. StoneX Group Inc. now owns 134,015 shares of the company's stock valued at $2,796,000 after acquiring an additional 112,063 shares during the period. Focus Partners Wealth lifted its stake in shares of Grayscale Ethereum Trust (ETH) by 11.0% during the first quarter. Focus Partners Wealth now owns 117,089 shares of the company's stock valued at $1,782,000 after acquiring an additional 11,612 shares during the period. Avantax Advisory Services Inc. lifted its stake in shares of Grayscale Ethereum Trust (ETH) by 144.0% during the first quarter. Avantax Advisory Services Inc. now owns 72,900 shares of the company's stock valued at $1,110,000 after acquiring an additional 43,018 shares during the period. Finally, Simplicity Wealth LLC lifted its stake in shares of Grayscale Ethereum Trust (ETH) by 104.2% during the second quarter. Simplicity Wealth LLC now owns 71,910 shares of the company's stock valued at $1,500,000 after acquiring an additional 36,690 shares during the period.

Grayscale Ethereum Trust (ETH) Company Profile

crossword cybersecurity is a technology commercialisation company focusing exclusively on the cyber security sector. we work with research intensive european university partners to identify promising cyber security intellectual property ("ip"​) from research that our industry partners tell us meet emerging real-world challenges.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.