Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Trading Up 5.6% – Should You Buy?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s stock price was up 5.6% on Friday . The company traded as high as $24.65 and last traded at $24.6650. Approximately 1,695,348 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 4,916,095 shares. The stock had previously closed at $23.36.

Grayscale Ethereum Mini Trust ETF Stock Up 6.4%

The stock has a fifty day moving average of $20.31 and a two-hundred day moving average of $19.65. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 10.52 and a beta of 2.61.

Grayscale Ethereum Mini Trust ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, September 3rd were issued a $0.0348 dividend. The ex-dividend date was Thursday, September 3rd. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio (DPR) is currently 42.37%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Verde Capital Management boosted its stake in shares of Grayscale Ethereum Mini Trust ETF by 79.4% during the 1st 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 in the last quarter. Renaissance Technologies LLC grew its holdings in 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 valued at $3,307,000 after purchasing an additional 20,024 shares during the last quarter. Compass Financial Management LLC purchased a new position in shares of Grayscale Ethereum Mini Trust ETF in the second quarter valued at $2,931,000. Pasadena Private Wealth LLC raised its stake in shares of Grayscale Ethereum Mini Trust ETF by 9.2% during the 1st quarter. Pasadena Private Wealth LLC now owns 131,722 shares of the company’s stock worth $2,616,000 after buying an additional 11,058 shares during the last quarter. Finally, Reliant Wealth Planning boosted its position in shares of Grayscale Ethereum Mini Trust ETF by 2.7% in the 1st quarter. Reliant Wealth Planning now owns 121,870 shares of the company’s stock worth $2,420,000 after buying an additional 3,180 shares in the last quarter. 77.84% of the stock is owned by hedge funds and other 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.