Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Stock Short Interest Rises 75.8%

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 2,017,999 shares, a growth of 75.8% from the September 30th total of 1,147,951 shares. Based on an average trading volume of 2,200,053 shares, the days-to-cover ratio is currently 0.9 days. Currently, 2.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A number of institutional investors have recently made changes to their positions in the business. Sloy Dahl & Holst LLC increased its position in shares of Grayscale Ethereum Mini Trust ETF by 2.1% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 883,884 shares of the company’s stock worth $22,530,000 after purchasing an additional 17,931 shares during the last quarter. Compass Financial Management LLC increased its holdings in Grayscale Ethereum Mini Trust ETF by 6.7% in the third quarter. Compass Financial Management LLC now owns 207,938 shares of the company’s stock valued at $5,300,000 after buying an additional 13,087 shares during the last quarter. Rye Brook Capital LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 0.9% during the third quarter. Rye Brook Capital LLC now owns 202,050 shares of the company’s stock valued at $5,150,000 after buying an additional 1,800 shares in the last quarter. Renaissance Technologies LLC increased its stake in Grayscale Ethereum Mini Trust ETF by 13.7% during the first quarter. Renaissance Technologies LLC now owns 166,494 shares of the company’s stock valued at $3,307,000 after purchasing an additional 20,024 shares during the last quarter. Finally, Aries Wealth Management lifted its position in Grayscale Ethereum Mini Trust ETF by 3.3% in the 3rd quarter. Aries Wealth Management now owns 103,707 shares of the company’s stock valued at $2,643,000 after purchasing an additional 3,310 shares during the last quarter. 77.84% of the stock is owned by institutional investors and hedge funds.

Grayscale Ethereum Mini Trust ETF Stock Performance

ETH stock traded down $0.99 during trading on Friday, hitting $21.29. The stock had a trading volume of 4,167,694 shares, compared to its average volume of 4,564,924. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 9.02 and a beta of 2.54. The company’s 50 day moving average price is $23.92 and its two-hundred day moving average price is $20.90. Grayscale Ethereum Mini Trust ETF has a 1-year low of $14.53 and a 1-year high of $36.76.

Grayscale Ethereum Mini Trust ETF Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Monday, October 5th were issued a $0.0422 dividend. This represents a $0.51 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, October 5th. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio is currently 42.37%.

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.