Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Reaches New 52-Week Low – Time to Sell?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s share price reached a new 52-week low on Thursday . The stock traded as low as $14.56 and last traded at $14.75, with a volume of 970534 shares changing hands. The stock had previously closed at $15.04.

Grayscale Ethereum Mini Trust ETF Price Performance

The company’s 50-day moving average price is $19.54 and its 200-day moving average price is $22.27. The company has a market cap of $1.26 billion, a P/E ratio of 6.32 and a beta of 2.48.

Institutional Trading of Grayscale Ethereum Mini Trust ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Turim 21 Investimentos Ltda. bought a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $30,000. Global Assets Advisory LLC bought a new position in shares of Grayscale Ethereum Mini Trust ETF during the first quarter worth about $45,000. Evercore Wealth Management LLC acquired a new stake in Grayscale Ethereum Mini Trust ETF in the 1st quarter valued at approximately $210,000. Sunbelt Securities Inc. raised its position in Grayscale Ethereum Mini Trust ETF by 1,060.0% in the 1st quarter. Sunbelt Securities Inc. now owns 11,217 shares of the company’s stock valued at $223,000 after buying an additional 10,250 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Grayscale Ethereum Mini Trust ETF by 8.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock valued at $224,000 after acquiring an additional 835 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.

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.