Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Down – Time to Sell?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) shares gapped down before the market opened on Monday. The stock had previously closed at $21.21, but opened at $20.21. Grayscale Ethereum Mini Trust ETF shares last traded at $20.2060, with a volume of 558,840 shares changing hands.

Grayscale Ethereum Mini Trust ETF Stock Down 3.2%

The firm has a market cap of $1.89 billion, a P/E ratio of 8.31 and a beta of 2.63. The firm’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $20.60.

Grayscale Ethereum Mini Trust ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, November 4th. Stockholders of record on Tuesday, November 3rd were paid a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, November 3rd. This is a decrease from Grayscale Ethereum Mini Trust ETF’s previous monthly dividend of $0.0422. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio (DPR) is 4.66%.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

Hedge funds have recently modified their holdings of the stock. Heritage Family Offices LLP purchased a new stake in Grayscale Ethereum Mini Trust ETF in the third quarter worth $29,000. MADDEN SECURITIES Corp purchased a new position in shares of Grayscale Ethereum Mini Trust ETF during the 3rd quarter valued at $29,000. GK Wealth Management LLC purchased a new position in shares of Grayscale Ethereum Mini Trust ETF during the 3rd quarter valued at $38,000. Turim 21 Investimentos Ltda. bought a new position in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter worth $30,000. Finally, Horrell Capital Management Inc. grew its stake in shares of Grayscale Ethereum Mini Trust ETF by 106.5% during the 3rd quarter. Horrell Capital Management Inc. now owns 2,156 shares of the company’s stock worth $55,000 after acquiring an additional 1,112 shares during the period. Institutional investors 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.