Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Down 4.9% – Here’s Why

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s stock price was down 4.9% on Thursday . The stock traded as low as $19.10 and last traded at $19.31. Approximately 934,380 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 8,594,411 shares. The stock had previously closed at $20.30.

Grayscale Ethereum Mini Trust ETF Stock Down 3.7%

The stock has a market capitalization of $1.66 billion, a PE ratio of 8.28 and a beta of 4.50. The firm’s fifty day moving average is $20.65 and its 200-day moving average is $28.72.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A hedge fund recently raised its stake in Grayscale Ethereum Mini Trust ETF stock. World Investment Advisors increased its stake in shares of Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,780 shares of the company’s stock after buying an additional 1,757 shares during the period. World Investment Advisors’ holdings in Grayscale Ethereum Mini Trust ETF were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission. 77.84% of the stock is currently owned by 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.