Fidelity Ethereum Fund (BATS:FETH) Trading Down 9.2% – Should You Sell?

Fidelity Ethereum Fund (BATS:FETH) shares dropped 9.2% during trading on Friday . The company traded as low as $32.8075 and last traded at $29.2920. Approximately 1,814,438 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 1,398,789 shares. The stock had previously closed at $32.25.

Fidelity Ethereum Fund Price Performance

The firm has a 50-day moving average of $30.37 and a two-hundred day moving average of $36.53.

Institutional Trading of Fidelity Ethereum Fund

Several institutional investors and hedge funds have recently bought and sold shares of FETH. Guerra Advisors Inc acquired a new stake in shares of Fidelity Ethereum Fund during the third quarter valued at about $30,000. Avalon Trust Co acquired a new stake in Fidelity Ethereum Fund in the 3rd quarter valued at approximately $41,000. Global Retirement Partners LLC purchased a new stake in Fidelity Ethereum Fund in the third quarter valued at approximately $42,000. Heritage Wealth Advisors acquired a new position in Fidelity Ethereum Fund during the third quarter worth $42,000. Finally, Sound Income Strategies LLC acquired a new position in Fidelity Ethereum Fund during the second quarter worth $27,000.

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.