Fidelity Ethereum Fund (BATS:FETH) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Fidelity Ethereum Fund (BATS:FETH) passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $21.63 and traded as low as $21.03. Fidelity Ethereum Fund shares last traded at $21.17, with a volume of 1,388,947 shares changing hands.

Fidelity Ethereum Fund Price Performance

The company has a 50-day moving average price of $24.56 and a 200 day moving average price of $21.54.

Hedge Funds Weigh In On Fidelity Ethereum Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in Fidelity Ethereum Fund during the 3rd quarter worth about $83,000. Parkside Financial Bank & Trust increased its stake in shares of Fidelity Ethereum Fund by 164.6% during the second quarter. Parkside Financial Bank & Trust now owns 6,117 shares of the company’s stock worth $96,000 after purchasing an additional 3,805 shares in the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in shares of Fidelity Ethereum Fund in the third quarter valued at approximately $208,000. Clientfirst Wealth Management LLC acquired a new stake in Fidelity Ethereum Fund during the 3rd quarter worth $218,000. Finally, XML Financial LLC acquired a new position in Fidelity Ethereum Fund during the third quarter worth about $220,000.

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.