Fidelity Ethereum Fund (BATS:FETH) Shares Down 20% – What’s Next?

Fidelity Ethereum Fund (BATS:FETH)’s stock price traded down 20% during mid-day trading on Wednesday . The stock traded as low as $32.81 and last traded at $25.81. 1,814,438 shares traded hands during trading, an increase of 40% from the average session volume of 1,299,698 shares. The stock had previously closed at $32.25.

Fidelity Ethereum Fund Stock Performance

The firm has a 50-day moving average of $18.52 and a 200-day moving average of $26.84.

Institutional Trading of Fidelity Ethereum Fund

Several institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its position in shares of 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 worth $370,597,000 after purchasing an additional 9,243,019 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Fidelity Ethereum Fund during the fourth quarter worth about $36,784,000. Almitas Capital LLC bought a new position in Fidelity Ethereum Fund during the fourth quarter valued at approximately $31,441,000. HBK Investments L P boosted its stake 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 buying an additional 366,898 shares during the last quarter. Finally, Elequin Capital LP bought a new position in Fidelity Ethereum Fund during the fourth quarter valued at approximately $19,773,000.

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.