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 large increase in short interest in October. As of October 15th, there was short interest totaling 2,017,999 shares, an increase of 75.8% from the September 30th total of 1,147,951 shares. Based on an average daily volume of 2,200,053 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.3% of the company’s stock are short sold.

Grayscale Ethereum Mini Trust ETF Price Performance

ETH stock traded up $0.13 during trading hours on Monday, reaching $21.42. 2,175,149 shares of the stock were exchanged, compared to its average volume of 4,553,609. The firm’s 50-day moving average is $23.92 and its 200-day moving average is $20.90. Grayscale Ethereum Mini Trust ETF has a 12 month low of $14.53 and a 12 month high of $35.21. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 9.08 and a beta of 2.54.

Grayscale Ethereum Mini Trust ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Monday, October 5th were issued a $0.0422 dividend. This represents a $0.51 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, October 5th. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio is presently 42.37%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Integrity Wealth Partners LLC bought a new position in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at $707,000. Compass Financial Management LLC acquired a new position in shares of Grayscale Ethereum Mini Trust ETF during the second quarter valued at about $2,931,000. Avaii Wealth Management LLC increased its position in shares of Grayscale Ethereum Mini Trust ETF by 414.3% during the third quarter. Avaii Wealth Management LLC now owns 57,831 shares of the company’s stock worth $1,472,000 after acquiring an additional 46,586 shares in the last quarter. Graetz Wealth LLC bought a new stake in shares of Grayscale Ethereum Mini Trust ETF during the first quarter worth about $1,334,000. Finally, Simplicity Wealth LLC increased its position in shares of Grayscale Ethereum Mini Trust ETF by 112.7% during the third quarter. Simplicity Wealth LLC now owns 51,115 shares of the company’s stock worth $1,303,000 after acquiring an additional 27,085 shares in the last quarter. Institutional investors own 77.84% of the company’s stock.

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.