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

Grayscale Bitcoin Miners ETF (NYSEARCA:MNRS)’s stock price traded down 5.8% during mid-day trading on Tuesday . The company traded as low as $40.67 and last traded at $40.92. 61,884 shares were traded during mid-day trading, an increase of 491% from the average session volume of 10,463 shares. The stock had previously closed at $43.45.

Grayscale Bitcoin Miners ETF Stock Performance

The stock has a market cap of $13.50 million, a P/E ratio of 9.91 and a beta of 6.51. The business has a 50 day simple moving average of $42.94 and a 200-day simple moving average of $31.09.

Institutional Trading of Grayscale Bitcoin Miners ETF

A number of large investors have recently added to or reduced their stakes in MNRS. Global Retirement Partners LLC raised its position in Grayscale Bitcoin Miners ETF by 22.1% in the third quarter. Global Retirement Partners LLC now owns 2,396 shares of the company’s stock worth $97,000 after acquiring an additional 434 shares during the period. Jane Street Group LLC bought a new position in shares of Grayscale Bitcoin Miners ETF during the 1st quarter valued at approximately $314,000. Finally, Formidable Asset Management LLC purchased a new stake in shares of Grayscale Bitcoin Miners ETF during the 3rd quarter worth approximately $323,000.

Grayscale Bitcoin Miners ETF Company Profile

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.