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

Fidelity Ethereum Fund (BATS:FETH) was down 33.1% on Friday . The stock traded as low as $32.81 and last traded at $21.59. Approximately 1,814,438 shares traded hands during mid-day 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 Price Performance

The firm has a fifty day simple moving average of $29.25 and a two-hundred day simple moving average of $29.15.

Institutional Investors Weigh In On Fidelity Ethereum Fund

Several institutional investors and hedge funds have recently bought and sold shares of FETH. Modus Advisors LLC raised its position in shares of Fidelity Ethereum Fund by 2.9% in the 4th quarter. Modus Advisors LLC now owns 11,352 shares of the company’s stock worth $379,000 after acquiring an additional 324 shares in the last quarter. Bank of America Corp DE raised its position in shares of Fidelity Ethereum Fund by 71.4% in the 4th quarter. Bank of America Corp DE now owns 1,800 shares of the company’s stock worth $60,000 after acquiring an additional 750 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Fidelity Ethereum Fund in the 4th quarter worth approximately $31,000. Richard W. Paul & Associates LLC raised its position in shares of Fidelity Ethereum Fund by 3.5% in the 4th quarter. Richard W. Paul & Associates LLC now owns 51,420 shares of the company’s stock worth $1,718,000 after acquiring an additional 1,748 shares in the last quarter. Finally, PYA Waltman Capital LLC raised its position in shares of Fidelity Ethereum Fund by 5.1% in the 4th quarter. PYA Waltman Capital LLC now owns 42,789 shares of the company’s stock worth $1,430,000 after acquiring an additional 2,083 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.