Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Shares Down 5% - Here's Why

Key Points

• Grayscale Ethereum Trust (ETH) shares dropped by 5% on Monday, trading as low as $37.89 before closing at $37.94 with a trading volume increase compared to the average session.
• Several hedge funds significantly increased their positions in Grayscale Ethereum Trust during the fourth quarter, with NewEdge Advisors LLC leading with a 308.2% increase.
• The company's 50-day moving average price stands at $27.72, while the 200-day moving average price is at $21.46, indicating a potential trend in its stock performance.

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE - Get Free Report) fell 5% on Monday . The company traded as low as $37.89 and last traded at $37.94. 5,151,711 shares were traded during trading, an increase of 1% from the average session volume of 5,097,510 shares. The stock had previously closed at $39.94.

Grayscale Ethereum Trust (ETH) Stock Performance

The business's 50 day moving average is $29.33 and its two-hundred day moving average is $21.98.

Hedge Funds Weigh In On Grayscale Ethereum Trust (ETH)

A number of hedge funds have recently bought and sold shares of ETHE. Integrated Wealth Concepts LLC raised its stake in Grayscale Ethereum Trust (ETH) by 13.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 21,754 shares of the company's stock worth $610,000 after buying an additional 2,549 shares during the last quarter. Lido Advisors LLC raised its stake in Grayscale Ethereum Trust (ETH) by 40.2% during the fourth quarter. Lido Advisors LLC now owns 29,338 shares of the company's stock worth $822,000 after buying an additional 8,408 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Grayscale Ethereum Trust (ETH) during the fourth quarter worth $551,000. Bulltick Wealth Management LLC acquired a new stake in Grayscale Ethereum Trust (ETH) in the fourth quarter worth $347,000. Finally, Cresset Asset Management LLC grew its holdings in Grayscale Ethereum Trust (ETH) by 2.0% in the fourth quarter. Cresset Asset Management LLC now owns 170,709 shares of the company's stock worth $4,783,000 after purchasing an additional 3,315 shares during the period.

About Grayscale Ethereum Trust (ETH)

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.