Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Trading Up 6.2% – What’s Next?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) shares rose 6.2% on Friday . The company traded as high as $24.84 and last traded at $24.9550. Approximately 1,799,012 shares were traded during mid-day 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 firm has a market cap of $2.33 billion, a P/E ratio of 10.37 and a beta of 2.61. The company’s 50-day moving average is $19.63 and its two-hundred day moving average is $19.47.

Grayscale Ethereum Mini Trust ETF Dividend Announcement

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 dividend payout ratio is 42.37%.

Institutional Trading of Grayscale Ethereum Mini Trust ETF

A number of hedge funds have recently made changes to their positions in ETH. Compass Financial Management LLC purchased a new stake in Grayscale Ethereum Mini Trust ETF during the second quarter valued at approximately $2,931,000. Verde Capital Management grew its holdings in Grayscale Ethereum Mini Trust ETF by 79.4% during the first quarter. Verde Capital Management now owns 178,118 shares of the company’s stock valued at $3,537,000 after purchasing an additional 78,826 shares during the period. Renaissance Technologies LLC increased its position 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 worth $3,307,000 after buying an additional 20,024 shares in the last quarter. Pasadena Private Wealth LLC lifted its position 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 valued at $2,616,000 after buying an additional 11,058 shares in the last quarter. Finally, Reliant Wealth Planning grew its stake in shares of Grayscale Ethereum Mini Trust ETF by 2.7% during the 1st quarter. Reliant Wealth Planning now owns 121,870 shares of the company’s stock valued at $2,420,000 after acquiring an additional 3,180 shares during the period. 77.84% of the stock is owned by institutional investors.

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.