Fidelity Ethereum Fund (BATS:FETH) Stock Price Down 3.6% – What’s Next?

Shares of Fidelity Ethereum Fund (BATS:FETH) dropped 3.6% during mid-day trading on Thursday . The stock traded as low as $20.09 and last traded at $20.58. Approximately 2,858,985 shares changed hands during trading, a decline of 48% from the average daily volume of 5,469,103 shares. The stock had previously closed at $21.34.

Fidelity Ethereum Fund Stock Down 3.6%

The company has a fifty day moving average price of $21.58 and a two-hundred day moving average price of $30.30.

Institutional Investors Weigh In On Fidelity Ethereum Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC boosted its position in shares of Fidelity Ethereum Fund by 567.8% during the 4th quarter. Virtu Financial LLC now owns 258,676 shares of the company’s stock valued at $7,659,000 after purchasing an additional 219,943 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Fidelity Ethereum Fund by 3,810.0% in the 4th quarter. Sunbelt Securities Inc. now owns 7,820 shares of the company’s stock worth $232,000 after purchasing an additional 7,620 shares in the last quarter. XTX Topco Ltd acquired a new stake in Fidelity Ethereum Fund during the fourth quarter valued at approximately $289,000. Millennium Management LLC lifted its stake in Fidelity Ethereum Fund by 33.6% during the fourth quarter. Millennium Management LLC now owns 3,857,936 shares of the company’s stock valued at $114,233,000 after purchasing an additional 969,683 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Fidelity Ethereum Fund by 611.9% during the fourth quarter. Cetera Investment Advisers now owns 109,105 shares of the company’s stock worth $3,231,000 after buying an additional 93,779 shares in the last quarter.

About Fidelity Ethereum Fund

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.