Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Sees Large Growth in Short Interest

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 2,828,545 shares, an increase of 120.2% from the August 15th total of 1,284,349 shares. Based on an average trading volume of 4,420,152 shares, the short-interest ratio is currently 0.6 days. Approximately 3.0% of the company’s stock are sold short.

Grayscale Ethereum Mini Trust ETF Price Performance

ETH stock traded down $0.01 during trading hours on Monday, reaching $24.25. 3,491,756 shares of the stock were exchanged, compared to its average volume of 4,941,740. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 10.27 and a beta of 2.61. The firm’s 50-day moving average is $19.79 and its 200-day moving average is $19.52. Grayscale Ethereum Mini Trust ETF has a 12 month low of $14.53 and a 12 month high of $44.84.

Grayscale Ethereum Mini Trust ETF Announces Dividend

The company also recently declared a dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.0348 per share. The ex-dividend date of this dividend was Thursday, September 3rd. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio is 42.37%.

Institutional Trading of Grayscale Ethereum Mini Trust ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Compass Financial Management LLC acquired a new position in Grayscale Ethereum Mini Trust ETF during the second quarter worth $2,931,000. Verde Capital Management increased its stake in Grayscale Ethereum Mini Trust ETF by 79.4% in the 1st quarter. Verde Capital Management now owns 178,118 shares of the company’s stock valued at $3,537,000 after buying an additional 78,826 shares during the last quarter. Renaissance Technologies LLC lifted its position in Grayscale Ethereum Mini Trust ETF by 13.7% during the 1st quarter. Renaissance Technologies LLC now owns 166,494 shares of the company’s stock worth $3,307,000 after buying an additional 20,024 shares in the last quarter. Pasadena Private Wealth LLC boosted its stake in shares of Grayscale Ethereum Mini Trust ETF by 9.2% during the 1st quarter. Pasadena Private Wealth LLC now owns 131,722 shares of the company’s stock worth $2,616,000 after buying an additional 11,058 shares during the last quarter. Finally, Reliant Wealth Planning boosted its stake in shares of Grayscale Ethereum Mini Trust ETF by 2.7% during the 1st quarter. Reliant Wealth Planning now owns 121,870 shares of the company’s stock worth $2,420,000 after buying an additional 3,180 shares during the last quarter. 77.84% of the stock is currently owned by institutional investors and hedge funds.

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.