Fidelity Ethereum Fund (BATS:FETH) Stock Price Down 43.3% – What’s Next?

Fidelity Ethereum Fund (BATS:FETH)’s stock price fell 43.3% during mid-day trading on Monday . The company traded as low as $32.81 and last traded at $18.28. 1,814,438 shares changed hands during trading, an increase of 48% from the average session volume of 1,223,122 shares. The stock had previously closed at $32.25.

Fidelity Ethereum Fund Stock Down 41.0 %

The company has a fifty day simple moving average of $24.39 and a 200 day simple moving average of $28.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BankPlus Trust Department bought a new stake in shares of Fidelity Ethereum Fund during the fourth quarter valued at approximately $31,000. Bank of America Corp DE increased its holdings 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 purchasing an additional 750 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Fidelity Ethereum Fund in the 4th quarter worth $119,000. Advisory Services Network LLC purchased a new position in shares of Fidelity Ethereum Fund in the fourth quarter worth $219,000. Finally, Werba Rubin Papier Wealth Management bought a new position in shares of Fidelity Ethereum Fund during the fourth quarter valued at $300,000.

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.