Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Break Below 200 Day Moving Average – Here’s Why

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) passed below its 200-day moving average during trading on Monday. The stock has a 200-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 changing hands.

Grayscale Ethereum Mini Trust ETF Stock Up 1.1%

The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 8.40 and a beta of 2.63. The company’s fifty day moving average is $23.54 and its two-hundred day moving average is $20.56.

Grayscale Ethereum Mini Trust ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, November 4th. Shareholders of record on Tuesday, November 3rd were given a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.0%. 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. Grayscale Ethereum Mini Trust ETF’s dividend payout ratio is presently 4.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ETH. Compass Financial Management LLC acquired a new position in Grayscale Ethereum Mini Trust ETF in the second quarter valued at about $2,931,000. Avaii Wealth Management LLC raised its position in shares of Grayscale Ethereum Mini Trust ETF by 414.3% in the 3rd quarter. Avaii Wealth Management LLC now owns 57,831 shares of the company’s stock valued at $1,472,000 after acquiring an additional 46,586 shares during the period. Simplicity Wealth LLC boosted its stake in Grayscale Ethereum Mini Trust ETF by 112.7% during the 3rd quarter. Simplicity Wealth LLC now owns 51,115 shares of the company’s stock worth $1,303,000 after acquiring an additional 27,085 shares during the last quarter. Venture Visionary Partners LLC bought a new position in Grayscale Ethereum Mini Trust ETF during the 3rd quarter worth approximately $564,000. Finally, Miller Global Investments LLC grew its holdings in Grayscale Ethereum Mini Trust ETF by 285.0% during the second quarter. Miller Global Investments LLC now owns 37,972 shares of the company’s stock valued at $571,000 after purchasing an additional 28,109 shares during the period. 77.84% of the stock is currently owned by 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.