Fidelity Ethereum Fund (BATS:FETH) Stock Jumps 1.8% – Should You Buy?

Fidelity Ethereum Fund (BATS:FETH) shares were up 1.8% on Tuesday. The stock traded as high as $24.64 and last traded at $24.24. Approximately 1,873,742 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 3,110,245 shares. The stock had previously closed at $23.82.

Fidelity Ethereum Fund Trading Down 4.4%

The business’s 50-day moving average is $24.68 and its 200-day moving average is $21.43.

Institutional Trading of Fidelity Ethereum Fund

Large investors have recently added to or reduced their stakes in the company. PYA Waltman Capital LLC raised its stake in shares of Fidelity Ethereum Fund by 4.5% in the second quarter. PYA Waltman Capital LLC now owns 83,723 shares of the company’s stock valued at $1,318,000 after acquiring an additional 3,591 shares during the last quarter. Financial Designs Corp boosted its holdings in shares of Fidelity Ethereum Fund by 11.2% in the 2nd quarter. Financial Designs Corp now owns 51,125 shares of the company’s stock worth $805,000 after acquiring an additional 5,139 shares in the last quarter. Lido Advisors LLC grew its position in Fidelity Ethereum Fund by 442.6% during the 1st quarter. Lido Advisors LLC now owns 40,057 shares of the company’s stock worth $836,000 after acquiring an additional 32,674 shares during the last quarter. Cetera Investment Advisers grew its position in Fidelity Ethereum Fund by 9.1% during the 1st quarter. Cetera Investment Advisers now owns 119,033 shares of the company’s stock worth $2,485,000 after acquiring an additional 9,928 shares during the last quarter. Finally, Independent Financial Group LLC bought a new stake in Fidelity Ethereum Fund during the 1st quarter worth approximately $1,223,000.

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. FETH was launched on Jul 22, 2024 and is issued by Fidelity.