Fidelity Ethereum Fund (BATS:FETH) Shares Down 25.1% – Should You Sell?

Fidelity Ethereum Fund (BATS:FETH)’s stock price was down 25.1% on Friday . The company traded as low as $32.81 and last traded at $24.16. Approximately 1,814,438 shares traded hands during trading, an increase of 39% from the average daily volume of 1,309,004 shares. The stock had previously closed at $32.25.

Fidelity Ethereum Fund Trading Down 25.1%

The business’s 50-day simple moving average is $23.41 and its two-hundred day simple moving average is $25.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mariner LLC lifted its position in shares of Fidelity Ethereum Fund by 14.4% in the 4th quarter. Mariner LLC now owns 18,444 shares of the company’s stock worth $616,000 after purchasing an additional 2,327 shares during the period. HBK Investments L P lifted its position in shares of Fidelity Ethereum Fund by 112.3% in the 4th quarter. HBK Investments L P now owns 693,523 shares of the company’s stock worth $23,171,000 after purchasing an additional 366,898 shares during the period. Advisory Services Network LLC acquired a new position in shares of Fidelity Ethereum Fund in the 4th quarter worth approximately $219,000. DRW Securities LLC acquired a new position in shares of Fidelity Ethereum Fund in the 4th quarter worth approximately $1,820,000. Finally, Sepio Capital LP acquired a new position in shares of Fidelity Ethereum Fund in the 4th quarter worth approximately $1,322,000.

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.