Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Stock Price Up 6.2% – Here’s Why

Shares of Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) traded up 6.2% during trading on Friday . The stock traded as high as $24.84 and last traded at $24.9550. 1,799,012 shares changed hands during trading, a decline of 63% from the average daily volume of 4,903,910 shares. The stock had previously closed at $23.49.

Grayscale Ethereum Mini Trust ETF Trading Up 3.7%

The company’s fifty day moving average is $19.63 and its 200-day moving average is $19.47. The firm has a market capitalization of $2.33 billion, a P/E ratio of 10.37 and a beta of 2.61.

Grayscale Ethereum Mini Trust ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.0348 per share. The ex-dividend date of this dividend was Thursday, September 3rd. Grayscale Ethereum Mini Trust ETF’s payout ratio is currently 42.37%.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

Large investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its stake in Grayscale Ethereum Mini Trust ETF by 8.0% during the first quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock worth $224,000 after acquiring an additional 835 shares in the last quarter. Beaird Harris Wealth Management LLC increased its position in Grayscale Ethereum Mini Trust ETF by 20.5% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 5,451 shares of the company’s stock valued at $82,000 after buying an additional 929 shares in the last quarter. Van Hulzen Asset Management LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 2.8% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 36,067 shares of the company’s stock worth $542,000 after buying an additional 976 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Grayscale Ethereum Mini Trust ETF by 58.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,575 shares of the company’s stock valued at $54,000 after acquiring an additional 1,313 shares during the period. Finally, Turim 21 Investimentos Ltda. bought a new stake in shares of Grayscale Ethereum Mini Trust ETF during the first quarter valued at approximately $30,000. 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.