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

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) shares 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.

Grayscale Ethereum Mini Trust ETF Trading Down 4.3%

The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 8.60 and a beta of 2.63. The company has a 50-day moving average of $23.74 and a 200-day moving average of $20.69.

Grayscale Ethereum Mini Trust ETF Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AdvisorNet Financial Inc increased its holdings in shares of Grayscale Ethereum Mini Trust ETF by 1.6% during the third quarter. AdvisorNet Financial Inc now owns 33,224 shares of the company’s stock valued at $847,000 after purchasing an additional 526 shares during the period. Condor Capital Management lifted its holdings in Grayscale Ethereum Mini Trust ETF by 4.1% in the third quarter. Condor Capital Management now owns 20,524 shares of the company’s stock worth $523,000 after purchasing an additional 816 shares during the period. Axxcess Wealth Management LLC lifted its holdings in Grayscale Ethereum Mini Trust ETF by 6.6% in the third quarter. Axxcess Wealth Management LLC now owns 14,804 shares of the company’s stock worth $377,000 after purchasing an additional 919 shares during the period. Beaird Harris Wealth Management LLC grew its position in Grayscale Ethereum Mini Trust ETF by 20.5% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 5,451 shares of the company’s stock valued at $82,000 after buying an additional 929 shares in the last quarter. Finally, Van Hulzen Asset Management LLC grew its position in Grayscale Ethereum Mini Trust ETF by 2.8% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 36,067 shares of the company’s stock valued at $542,000 after buying an additional 976 shares in the last quarter. 77.84% of the stock is 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.