Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Sees Significant Growth in Short Interest

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 2,828,545 shares, an increase of 120.2% from the August 15th total of 1,284,349 shares. Based on an average daily trading volume, of 4,420,152 shares, the short-interest ratio is currently 0.6 days. Approximately 3.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ETH. Van Hulzen Asset Management LLC grew its holdings in Grayscale Ethereum Mini Trust ETF by 2.8% during the second quarter. Van Hulzen Asset Management LLC now owns 36,067 shares of the company’s stock worth $542,000 after acquiring an additional 976 shares during the period. Lotus Asset Management LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF during the second quarter worth about $199,000. IFP Advisors Inc raised its holdings in shares of Grayscale Ethereum Mini Trust ETF by 40.0% during the second quarter. IFP Advisors Inc now owns 12,340 shares of the company’s stock valued at $185,000 after acquiring an additional 3,526 shares during the last quarter. Sterling Investment Advisors Ltd. acquired a new stake in shares of Grayscale Ethereum Mini Trust ETF in the second quarter worth approximately $183,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF during the second quarter worth $171,000. 77.84% of the stock is currently owned by institutional investors.

Grayscale Ethereum Mini Trust ETF Stock Performance

Shares of ETH traded down $1.20 during trading hours on Tuesday, hitting $23.03. The company had a trading volume of 7,459,224 shares, compared to its average volume of 4,959,378. The firm has a fifty day moving average price of $19.93 and a 200-day moving average price of $19.57. Grayscale Ethereum Mini Trust ETF has a 52-week low of $14.53 and a 52-week high of $44.84. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 9.76 and a beta of 2.61.

Grayscale Ethereum Mini Trust ETF Announces Dividend

The company also recently announced a dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, September 3rd were given a $0.0348 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio (DPR) is presently 42.37%.

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.