Fidelity Ethereum Fund (BATS:FETH) Hits New 52-Week Low – Should You Sell?

Shares of Fidelity Ethereum Fund (BATS:FETH) hit a new 52-week low on Friday . The stock traded as low as $15.66 and last traded at $15.76, with a volume of 3027769 shares changing hands. The stock had previously closed at $17.69.

Fidelity Ethereum Fund Trading Down 12.8%

The firm’s 50-day moving average price is $21.73 and its two-hundred day moving average price is $24.72.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FETH. Millennium Management LLC boosted its position in shares of Fidelity Ethereum Fund by 393.8% during the 3rd quarter. Millennium Management LLC now owns 2,888,253 shares of the company’s stock valued at $120,007,000 after acquiring an additional 2,303,389 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Fidelity Ethereum Fund by 663.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,227,277 shares of the company’s stock valued at $50,993,000 after buying an additional 1,066,477 shares during the last quarter. Kaleidoscope Capital LP acquired a new position in Fidelity Ethereum Fund in the third quarter valued at about $27,326,000. Jane Street Group LLC lifted its position in Fidelity Ethereum Fund by 35.9% in the second quarter. Jane Street Group LLC now owns 1,882,006 shares of the company’s stock valued at $47,370,000 after buying an additional 496,687 shares during the last quarter. Finally, Capula Management Ltd lifted its position in Fidelity Ethereum Fund by 21.1% in the third quarter. Capula Management Ltd now owns 2,174,929 shares of the company’s stock valued at $90,368,000 after buying an additional 378,733 shares during the last quarter.

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.