Grayscale Bitcoin Miners ETF (NYSEARCA:MNRS) Trading Down 5.8% – Should You Sell?

Shares of Grayscale Bitcoin Miners ETF (NYSEARCA:MNRS) were down 5.8% on Tuesday . The stock traded as low as $40.67 and last traded at $40.92. Approximately 61,884 shares traded hands during trading, an increase of 491% from the average daily volume of 10,463 shares. The stock had previously closed at $43.45.

Grayscale Bitcoin Miners ETF Trading Down 5.8%

The company has a market cap of $13.50 million, a P/E ratio of 9.91 and a beta of 6.51. The company’s 50-day moving average price is $42.94 and its two-hundred day moving average price is $31.09.

Institutional Trading of Grayscale Bitcoin Miners ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC grew its position in shares of Grayscale Bitcoin Miners ETF by 22.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,396 shares of the company’s stock worth $97,000 after acquiring an additional 434 shares in the last quarter. Formidable Asset Management LLC acquired a new stake in shares of Grayscale Bitcoin Miners ETF during the 3rd quarter valued at approximately $323,000. Finally, Jane Street Group LLC acquired a new stake in shares of Grayscale Bitcoin Miners ETF during the 1st quarter valued at approximately $314,000.

About Grayscale Bitcoin Miners ETF

The Grayscale Bitcoin Miners ETF (MNRS) is an exchange-traded fund that is based on the Indxx Bitcoin Miners index. The fund tracks an index of global companies that generate revenue from bitcoin mining activities or mining related services. Constituents are selected and weighted based on market-cap and revenue tied to the relevant theme.