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

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) shares gapped down prior to trading on Friday . The stock had previously closed at $16.86, but opened at $15.82. Grayscale Ethereum Mini Trust ETF shares last traded at $15.51, with a volume of 1,725,809 shares trading hands.

Grayscale Ethereum Mini Trust ETF Price Performance

The stock has a market capitalization of $1.28 billion, a P/E ratio of 6.41 and a beta of 2.48. The company has a 50 day simple moving average of $20.70 and a 200-day simple moving average of $23.45.

Institutional Trading of Grayscale Ethereum Mini Trust ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC raised its stake in shares of Grayscale Ethereum Mini Trust ETF by 8.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock valued at $224,000 after purchasing an additional 835 shares during the period. Turim 21 Investimentos Ltda. bought a new stake in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter valued at $30,000. World Investment Advisors raised its stake in shares of Grayscale Ethereum Mini Trust ETF by 4.9% during the 4th quarter. World Investment Advisors now owns 37,780 shares of the company’s stock valued at $1,060,000 after purchasing an additional 1,757 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter valued at $45,000. Finally, Freedom Financial Partners LLC raised its stake in shares of Grayscale Ethereum Mini Trust ETF by 8.3% during the 1st quarter. Freedom Financial Partners LLC now owns 37,342 shares of the company’s stock valued at $742,000 after purchasing an additional 2,870 shares during the period. 77.84% of the stock is currently owned by institutional investors.

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.