Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $20.64 and traded as low as $20.13. Grayscale Ethereum Mini Trust ETF shares last traded at $20.27, with a volume of 3,289,865 shares traded.

Grayscale Ethereum Mini Trust ETF Trading Down 4.4%

The business has a 50-day moving average price of $23.68 and a 200-day moving average price of $20.64. The firm has a market cap of $1.78 billion, a P/E ratio of 8.59 and a beta of 2.63.

Grayscale Ethereum Mini Trust ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, November 4th. Investors of record on Tuesday, November 3rd were issued a $0.0331 dividend. The ex-dividend date was Tuesday, November 3rd. This is a decrease from Grayscale Ethereum Mini Trust ETF’s previous monthly dividend of $0.0422. This represents a $0.40 annualized dividend and a dividend yield of 2.0%. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio is presently 42.37%.

Institutional Trading of Grayscale Ethereum Mini Trust ETF

A number of hedge funds have recently added to or reduced their stakes in ETH. MADDEN SECURITIES Corp bought a new position in Grayscale Ethereum Mini Trust ETF during the 3rd quarter worth about $29,000. Heritage Family Offices LLP purchased a new position in Grayscale Ethereum Mini Trust ETF during the 3rd quarter valued at about $29,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Grayscale Ethereum Mini Trust ETF in the 1st quarter valued at about $30,000. GK Wealth Management LLC bought a new stake in shares of Grayscale Ethereum Mini Trust ETF in the 3rd quarter valued at about $38,000. Finally, Global Assets Advisory LLC bought a new stake in shares of Grayscale Ethereum Mini Trust ETF in the 1st quarter valued at about $45,000. 77.84% of the stock is owned by hedge funds and other institutional investors.

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.