Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Short Interest Down 75.8% in April

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 432,081 shares, a drop of 75.8% from the April 15th total of 1,782,765 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 2,817,481 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

A number of large investors have recently added to or reduced their stakes in ETH. Global Assets Advisory LLC acquired a new stake in Grayscale Ethereum Mini Trust ETF during the 1st quarter valued at $45,000. Kestra Private Wealth Services LLC grew its holdings in Grayscale Ethereum Mini Trust ETF by 8.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock valued at $224,000 after purchasing an additional 835 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Grayscale Ethereum Mini Trust ETF during the 1st quarter valued at $260,000. Avid Wealth Partners LLC grew its holdings in Grayscale Ethereum Mini Trust ETF by 55.4% during the 1st quarter. Avid Wealth Partners LLC now owns 13,935 shares of the company’s stock valued at $277,000 after purchasing an additional 4,966 shares in the last quarter. Finally, PFG Investments LLC grew its holdings in Grayscale Ethereum Mini Trust ETF by 97.2% during the 1st quarter. PFG Investments LLC now owns 15,155 shares of the company’s stock valued at $301,000 after purchasing an additional 7,470 shares in the last quarter. 77.84% of the stock is owned by institutional investors and hedge funds.

Grayscale Ethereum Mini Trust ETF Price Performance

ETH traded down $0.27 during trading hours on Wednesday, reaching $21.42. 1,547,390 shares of the stock traded hands, compared to its average volume of 6,840,522. The firm’s fifty day simple moving average is $20.89 and its two-hundred day simple moving average is $25.07. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 9.08 and a beta of 2.75. Grayscale Ethereum Mini Trust ETF has a fifty-two week low of $17.07 and a fifty-two week high of $45.78.

About Grayscale Ethereum Mini Trust ETF

The Grayscale Ethereum Mini Trust ETF (ETH) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of ether (ETH). An investment in the fund is not a direct investment in ether. ETH was launched on Apr 23, 2024 and is issued by Grayscale.