Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Reaches New 1-Year Low – Here’s What Happened

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s stock price reached a new 52-week low on Saturday . The company traded as low as $14.64 and last traded at $14.95, with a volume of 10936048 shares traded. The stock had previously closed at $16.86.

Grayscale Ethereum Mini Trust ETF Stock Down 11.3%

The company has a market cap of $1.27 billion, a PE ratio of 6.33 and a beta of 2.48. The stock’s 50 day simple moving average is $20.59 and its two-hundred day simple moving average is $23.39.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A number of large investors have recently bought and sold shares of ETH. World Investment Advisors raised its stake in Grayscale Ethereum Mini Trust ETF by 4.9% during the fourth quarter. World Investment Advisors now owns 37,780 shares of the company’s stock worth $1,060,000 after purchasing an additional 1,757 shares during the period. Freedom Financial Partners LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 8.3% during the first quarter. Freedom Financial Partners LLC now owns 37,342 shares of the company’s stock worth $742,000 after purchasing an additional 2,870 shares during the period. Verde Capital Management raised its stake 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 worth $3,537,000 after purchasing an additional 78,826 shares during the period. AdvisorNet Financial Inc raised its stake in Grayscale Ethereum Mini Trust ETF by 27.3% during the first quarter. AdvisorNet Financial Inc now owns 34,582 shares of the company’s stock worth $687,000 after purchasing an additional 7,414 shares during the period. Finally, RFG Advisory LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 49.4% during the first quarter. RFG Advisory LLC now owns 62,301 shares of the company’s stock worth $1,237,000 after purchasing an additional 20,598 shares during the period. Hedge funds and other institutional investors own 77.84% of the company’s stock.

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.