Grayscale Bitcoin Miners ETF (NYSEARCA:MNRS) Trading Down 2.3% – Should You Sell?

Grayscale Bitcoin Miners ETF (NYSEARCA:MNRS)’s share price fell 2.3% during trading on Wednesday . The stock traded as low as $36.50 and last traded at $36.62. 4,720 shares traded hands during trading, a decline of 56% from the average session volume of 10,844 shares. The stock had previously closed at $37.49.

Grayscale Bitcoin Miners ETF Trading Down 2.3%

The stock’s fifty day moving average price is $42.55 and its 200 day moving average price is $33.24. The stock has a market cap of $12.08 million, a P/E ratio of 9.91 and a beta of 6.51.

Institutional Trading of Grayscale Bitcoin Miners ETF

Hedge funds have recently made changes to their positions in the stock. Group One Trading LLC bought a new position in Grayscale Bitcoin Miners ETF during the 3rd quarter valued at approximately $38,000. Global Retirement Partners LLC grew its stake in shares of Grayscale Bitcoin Miners ETF by 22.1% in the third quarter. Global Retirement Partners LLC now owns 2,396 shares of the company’s stock worth $97,000 after acquiring an additional 434 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Grayscale Bitcoin Miners ETF during the first quarter valued at $314,000. Finally, Formidable Asset Management LLC purchased a new position in shares of Grayscale Bitcoin Miners ETF in the 3rd quarter worth about $323,000.

About Grayscale Bitcoin Miners ETF

The Grayscale Bitcoin Miners ETF (MNRS) is an exchange-traded fund that is based on the Indxx Bitcoin Miners index. The fund tracks an index of global companies that generate revenue from bitcoin mining activities or mining related services. Constituents are selected and weighted based on market-cap and revenue tied to the relevant theme.