Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Short Interest Down 75.8% in April

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 432,081 shares, a drop of 75.8% from the April 15th total of 1,782,765 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 2,817,481 shares, the short-interest ratio is currently 0.2 days.

Grayscale Ethereum Mini Trust ETF Price Performance

NYSEARCA:ETH traded down $0.27 during trading hours on Wednesday, reaching $21.42. 1,547,390 shares of the company were exchanged, compared to its average volume of 6,840,522. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 9.08 and a beta of 2.75. Grayscale Ethereum Mini Trust ETF has a 52-week low of $17.07 and a 52-week high of $45.78. The stock has a 50 day simple moving average of $20.89 and a 200 day simple moving average of $25.07.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A number of large investors have recently bought and sold shares of ETH. Global Assets Advisory LLC purchased a new position in Grayscale Ethereum Mini Trust ETF during the first quarter worth approximately $45,000. Kestra Private Wealth Services LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 8.0% during the first quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock worth $224,000 after purchasing an additional 835 shares during the period. Diversify Wealth Management LLC purchased a new position in Grayscale Ethereum Mini Trust ETF during the first quarter worth approximately $260,000. Avid Wealth Partners LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 55.4% during the first quarter. Avid Wealth Partners LLC now owns 13,935 shares of the company’s stock worth $277,000 after purchasing an additional 4,966 shares during the period. Finally, PFG Investments LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 97.2% during the first quarter. PFG Investments LLC now owns 15,155 shares of the company’s stock worth $301,000 after purchasing an additional 7,470 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.