Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Down – What’s Next?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $21.21, but opened at $20.21. Grayscale Ethereum Mini Trust ETF shares last traded at $20.2060, with a volume of 558,840 shares traded.

Grayscale Ethereum Mini Trust ETF Price Performance

The firm has a market capitalization of $1.79 billion, a P/E ratio of 8.60 and a beta of 2.63. The firm’s fifty day moving average price is $23.74 and its 200-day moving average price is $20.69.

Grayscale Ethereum Mini Trust ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, November 4th. Shareholders of record on Tuesday, November 3rd were given a $0.0331 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. This is a negative change from Grayscale Ethereum Mini Trust ETF’s previous monthly dividend of $0.0422. The ex-dividend date was Tuesday, November 3rd. Grayscale Ethereum Mini Trust ETF’s payout ratio is currently 42.37%.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

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