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

Fidelity Ethereum Fund (BATS:FETH) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $15.66 and last traded at $15.76, with a volume of 3027769 shares trading hands. The stock had previously closed at $17.69.

Fidelity Ethereum Fund Stock Down 12.8%

The firm’s 50 day moving average is $21.73 and its 200-day moving average is $24.72.

Institutional Investors Weigh In On Fidelity Ethereum Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avalon Trust Co purchased a new stake in shares of Fidelity Ethereum Fund during the third quarter worth $41,000. Heritage Wealth Advisors purchased a new stake in shares of Fidelity Ethereum Fund during the third quarter worth $42,000. Parkside Financial Bank & Trust purchased a new stake in shares of Fidelity Ethereum Fund during the fourth quarter worth $31,000. Headlands Technologies LLC purchased a new stake in shares of Fidelity Ethereum Fund during the second quarter worth $33,000. Finally, Bank of America Corp DE grew its holdings in shares of Fidelity Ethereum Fund by 71.4% during the fourth quarter. Bank of America Corp DE now owns 1,800 shares of the company’s stock worth $60,000 after buying an additional 750 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.