Fidelity Ethereum Fund (BATS:FETH) Hits New 52-Week Low – Should You Sell?

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

Fidelity Ethereum Fund Stock Up 1.0%

The stock’s 50 day moving average price is $20.19 and its two-hundred day moving average price is $23.29.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Fidelity Ethereum Fund by 33.6% during the 4th quarter. Millennium Management LLC now owns 3,857,936 shares of the company’s stock worth $114,233,000 after purchasing an additional 969,683 shares in the last quarter. Capula Management Ltd increased its holdings in Fidelity Ethereum Fund by 21.1% in the third 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 during the last quarter. Jane Street Group LLC increased 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 buying an additional 496,687 shares during the last quarter. Schonfeld Strategic Advisors LLC raised 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 acquiring an additional 1,066,477 shares in the last quarter. Finally, Kaleidoscope Capital LP raised its position in Fidelity Ethereum Fund by 10.9% during the fourth quarter. Kaleidoscope Capital LP now owns 729,305 shares of the company’s stock valued at $21,595,000 after acquiring an additional 71,634 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.