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

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

Grayscale Ethereum Mini Trust ETF Stock Performance

ETH traded down $0.40 on Friday, hitting $22.98. 2,195,767 shares of the company were exchanged, compared to its average volume of 4,674,422. The business’s fifty day moving average is $23.23 and its 200 day moving average is $20.38. Grayscale Ethereum Mini Trust ETF has a fifty-two week low of $14.53 and a fifty-two week high of $39.90. The firm has a market capitalization of $2.02 billion, a P/E ratio of 9.74 and a beta of 2.54.

Grayscale Ethereum Mini Trust ETF Announces Dividend

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

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

A number of institutional investors and hedge funds have recently modified their holdings of ETH. Compass Financial Management LLC purchased a new position in Grayscale Ethereum Mini Trust ETF in the 2nd quarter valued at approximately $2,931,000. 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 worth $3,537,000 after purchasing an additional 78,826 shares in the last quarter. Graetz Wealth LLC purchased a new stake in Grayscale Ethereum Mini Trust ETF during the first quarter worth $1,334,000. Avaii Wealth Management LLC boosted its position in 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 purchasing an additional 46,586 shares in the last quarter. Finally, Integrity Wealth Partners LLC acquired a new stake in Grayscale Ethereum Mini Trust ETF in the first quarter valued at $707,000. 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.