Fidelity Ethereum Fund (BATS:FETH) Trading 6.9% Higher – Still a Buy?

Fidelity Ethereum Fund (BATS:FETH)’s share price traded up 6.9% on Friday . The company traded as high as $20.66 and last traded at $20.40. 3,863,285 shares changed hands during trading, a decline of 29% from the average session volume of 5,432,229 shares. The stock had previously closed at $19.09.

Fidelity Ethereum Fund Price Performance

The firm has a 50-day simple moving average of $28.46 and a 200 day simple moving average of $35.43.

Hedge Funds Weigh In On Fidelity Ethereum Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its position in Fidelity Ethereum Fund by 12.9% in the second quarter. IFP Advisors Inc now owns 3,072 shares of the company’s stock valued at $77,000 after acquiring an additional 350 shares in the last quarter. BankPlus Trust Department lifted its position in shares of Fidelity Ethereum Fund by 21.2% during the fourth quarter. BankPlus Trust Department now owns 2,421 shares of the company’s stock worth $72,000 after purchasing an additional 423 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Fidelity Ethereum Fund by 30.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,106 shares of the company’s stock valued at $62,000 after purchasing an additional 486 shares during the period. Kestra Advisory Services LLC grew its holdings in Fidelity Ethereum Fund by 11.5% during the 4th quarter. Kestra Advisory Services LLC now owns 6,172 shares of the company’s stock valued at $183,000 after purchasing an additional 637 shares in the last quarter. Finally, Guerra Advisors Inc purchased a new stake in Fidelity Ethereum Fund during the 3rd quarter worth $30,000.

Fidelity Ethereum Fund Company Profile

The Fidelity Ethereum Fund ETF (FETH) 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) using an ether price feed, less trust expenses and liabilities. An investment in the fund is not a direct investment in ether. FETH was launched on Jul 22, 2024 and is issued by Fidelity.