Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Stock Short Interest Falls 38.8%

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,147,951 shares, a drop of 38.8% from the September 15th total of 1,874,751 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 2,778,578 shares, the days-to-cover ratio is presently 0.4 days.

Grayscale Ethereum Mini Trust ETF Price Performance

ETH traded down $0.41 on Friday, reaching $22.96. 1,989,825 shares of the company traded hands, compared to its average volume of 4,672,538. The stock’s 50 day moving average price is $23.14 and its 200-day moving average price is $20.36. Grayscale Ethereum Mini Trust ETF has a 52-week low of $14.53 and a 52-week high of $39.90. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 9.74 and a beta of 2.54.

Grayscale Ethereum Mini Trust ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Monday, October 5th were issued a dividend of $0.0422 per share. This represents a $0.51 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, October 5th. Grayscale Ethereum Mini Trust ETF’s payout ratio is currently 42.37%.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A number of hedge funds have recently modified their holdings of the stock. Verde Capital Management boosted its position in Grayscale Ethereum Mini Trust ETF by 79.4% during the first quarter. Verde Capital Management now owns 178,118 shares of the company’s stock valued at $3,537,000 after purchasing an additional 78,826 shares during the last quarter. Integrity Wealth Partners LLC acquired a new position in Grayscale Ethereum Mini Trust ETF in the 1st quarter worth about $707,000. Compass Financial Management LLC acquired a new position in Grayscale Ethereum Mini Trust ETF in the 2nd quarter worth about $2,931,000. Graetz Wealth LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter worth about $1,334,000. Finally, Avaii Wealth Management LLC raised its stake in shares of Grayscale Ethereum Mini Trust ETF by 414.3% during the 3rd quarter. Avaii Wealth Management LLC now owns 57,831 shares of the company’s stock worth $1,472,000 after purchasing an additional 46,586 shares in the last quarter. 77.84% of the stock is owned by institutional investors and hedge funds.

Grayscale Ethereum Mini Trust ETF Company Profile

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.