Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Reaches New 52-Week Low – Time to Sell?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) shares hit a new 52-week low on Thursday . The stock traded as low as $14.56 and last traded at $14.75, with a volume of 970534 shares. The stock had previously closed at $15.04.

Grayscale Ethereum Mini Trust ETF Stock Down 0.8%

The stock’s fifty day moving average price is $19.54 and its 200-day moving average price is $22.27. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 6.32 and a beta of 2.48.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Verde Capital Management boosted its stake in shares of Grayscale Ethereum Mini Trust ETF by 79.4% during the 1st quarter. Verde Capital Management now owns 178,118 shares of the company’s stock worth $3,537,000 after buying an additional 78,826 shares during the last quarter. Turim 21 Investimentos Ltda. bought a new position in shares of Grayscale Ethereum Mini Trust ETF in the 1st quarter valued at about $30,000. Diversify Wealth Management LLC acquired a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $260,000. Global Assets Advisory LLC acquired a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $45,000. Finally, Avid Wealth Partners LLC raised its holdings 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 acquiring an additional 4,966 shares in the last quarter. 77.84% of the stock is currently owned by institutional investors and hedge funds.

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.