Fidelity Ethereum Fund (BATS:FETH) Shares Down 33.1% – Time to Sell?

Fidelity Ethereum Fund (BATS:FETH)’s stock price was down 33.1% during trading on Friday . The company traded as low as $32.81 and last traded at $21.59. Approximately 1,814,438 shares traded hands during trading, an increase of 49% from the average daily volume of 1,221,126 shares. The stock had previously closed at $32.25.

Fidelity Ethereum Fund Trading Down 33.1 %

The stock has a fifty day simple moving average of $29.25 and a 200 day simple moving average of $29.15.

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. Jane Street Group LLC raised its holdings in Fidelity Ethereum Fund by 499.8% during the fourth quarter. Jane Street Group LLC now owns 11,092,387 shares of the company’s stock valued at $370,597,000 after acquiring an additional 9,243,019 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Fidelity Ethereum Fund during the fourth quarter valued at about $36,784,000. Almitas Capital LLC bought a new stake in Fidelity Ethereum Fund during the fourth quarter valued at about $31,441,000. FMR LLC bought a new stake in Fidelity Ethereum Fund during the third quarter valued at about $18,828,000. Finally, HBK Investments L P raised its holdings in Fidelity Ethereum Fund by 112.3% during the fourth quarter. HBK Investments L P now owns 693,523 shares of the company’s stock valued at $23,171,000 after acquiring an additional 366,898 shares during the period.

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.