Fidelity Ethereum Fund (BATS:FETH) Trading Down 3.1% – Here’s What Happened

Fidelity Ethereum Fund (BATS:FETH) dropped 3.1% during mid-day trading on Friday . The company traded as low as $32.8075 and last traded at $31.2510. Approximately 1,814,438 shares were traded 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 Trading Down 3.1%

The stock’s 50-day simple moving average is $40.29 and its 200-day simple moving average is $34.47.

Institutional Trading of Fidelity Ethereum Fund

A number of hedge funds and other institutional investors have recently modified their holdings of FETH. Goldman Sachs Group Inc. increased its stake in shares of Fidelity Ethereum Fund by 11.8% in the first quarter. Goldman Sachs Group Inc. now owns 7,856,874 shares of the company’s stock valued at $143,388,000 after buying an additional 832,127 shares during the period. Jane Street Group LLC boosted its holdings 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 worth $47,370,000 after acquiring an additional 496,687 shares in the last quarter. Capula Management Ltd grew its position in Fidelity Ethereum Fund by 7.7% in the 2nd quarter. Capula Management Ltd now owns 1,796,196 shares of the company’s stock valued at $45,210,000 after purchasing an additional 128,050 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in shares of 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 buying an additional 1,066,477 shares during the last quarter. Finally, HBK Investments L P increased its holdings in Fidelity Ethereum Fund by 150.7% during the 2nd quarter. HBK Investments L P now owns 794,238 shares of the company’s stock worth $19,991,000 after purchasing an additional 477,445 shares in 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.