Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Down – Time to Sell?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) gapped down prior to trading on Friday . The stock had previously closed at $16.86, but opened at $15.82. Grayscale Ethereum Mini Trust ETF shares last traded at $15.51, with a volume of 1,725,809 shares.

Grayscale Ethereum Mini Trust ETF Stock Performance

The firm has a market capitalization of $1.28 billion, a P/E ratio of 6.41 and a beta of 2.48. The business has a 50 day simple moving average of $20.70 and a two-hundred day simple moving average of $23.45.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC boosted its holdings in Grayscale Ethereum Mini Trust ETF by 8.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock valued at $224,000 after acquiring an additional 835 shares during the period. Turim 21 Investimentos Ltda. purchased a new stake in Grayscale Ethereum Mini Trust ETF during the 1st quarter valued at about $30,000. World Investment Advisors boosted its holdings in Grayscale Ethereum Mini Trust ETF by 4.9% during the 4th quarter. World Investment Advisors now owns 37,780 shares of the company’s stock valued at $1,060,000 after acquiring an additional 1,757 shares during the period. Global Assets Advisory LLC purchased a new stake in Grayscale Ethereum Mini Trust ETF during the 1st quarter valued at about $45,000. Finally, Freedom Financial Partners LLC boosted its holdings in Grayscale Ethereum Mini Trust ETF by 8.3% during the 1st quarter. Freedom Financial Partners LLC now owns 37,342 shares of the company’s stock valued at $742,000 after acquiring an additional 2,870 shares during the period. 77.84% of the stock is currently 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.