Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH – Get Free Report)’s share price dropped 5.5% during trading on Wednesday . The company traded as low as $17.06 and last traded at $17.13. Approximately 3,509,065 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 6,318,548 shares. The stock had previously closed at $18.13.
Grayscale Ethereum Mini Trust ETF Stock Down 11.3%
The stock has a 50 day moving average of $20.59 and a 200 day moving average of $23.39. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 6.33 and a beta of 2.48.
Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Verde Capital Management lifted its stake in shares of Grayscale Ethereum Mini Trust ETF by 79.4% in the first quarter. Verde Capital Management now owns 178,118 shares of the company’s stock worth $3,537,000 after acquiring an additional 78,826 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Grayscale Ethereum Mini Trust ETF by 13.7% in the first quarter. Renaissance Technologies LLC now owns 166,494 shares of the company’s stock worth $3,307,000 after acquiring an additional 20,024 shares during the period. Pasadena Private Wealth LLC lifted its stake in shares of Grayscale Ethereum Mini Trust ETF by 9.2% in the first quarter. Pasadena Private Wealth LLC now owns 131,722 shares of the company’s stock worth $2,616,000 after acquiring an additional 11,058 shares during the period. Reliant Wealth Planning lifted its stake in shares of Grayscale Ethereum Mini Trust ETF by 2.7% in the first quarter. Reliant Wealth Planning now owns 121,870 shares of the company’s stock worth $2,420,000 after acquiring an additional 3,180 shares during the period. Finally, Graetz Wealth LLC acquired a new position in shares of Grayscale Ethereum Mini Trust ETF in the first quarter worth approximately $1,334,000. 77.84% of the stock is owned by institutional investors and hedge funds.
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.
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