Fidelity Ethereum Fund (BATS:FETH) Hits New 12-Month Low – What’s Next?

Shares of Fidelity Ethereum Fund (BATS:FETH) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.25 and last traded at $15.61, with a volume of 877505 shares trading hands. The stock had previously closed at $15.77.

Fidelity Ethereum Fund Price Performance

The company’s 50-day moving average is $20.50 and its 200 day moving average is $23.45.

Institutional Trading of Fidelity Ethereum Fund

Several hedge funds and other institutional investors have recently modified their holdings of FETH. Millennium Management LLC raised its position in Fidelity Ethereum Fund by 393.8% during the third quarter. Millennium Management LLC now owns 2,888,253 shares of the company’s stock valued at $120,007,000 after buying an additional 2,303,389 shares during the period. Schonfeld Strategic Advisors LLC grew its position in Fidelity Ethereum Fund by 663.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,227,277 shares of the company’s stock valued at $50,993,000 after purchasing an additional 1,066,477 shares in the last quarter. Kaleidoscope Capital LP acquired a new position in Fidelity Ethereum Fund in the 3rd quarter valued at approximately $27,326,000. Jane Street Group LLC increased its stake in Fidelity Ethereum Fund by 35.9% in the 2nd 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 period. Finally, Capula Management Ltd lifted its position in Fidelity Ethereum Fund by 21.1% in the 3rd quarter. Capula Management Ltd now owns 2,174,929 shares of the company’s stock worth $90,368,000 after buying an additional 378,733 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. FETH was launched on Jul 22, 2024 and is issued by Fidelity.