Fidelity Ethereum Fund (BATS:FETH) Stock Price Down 43.3% – Time to Sell?

Fidelity Ethereum Fund (BATS:FETH)’s stock price traded down 43.3% on Monday . The company traded as low as $32.81 and last traded at $18.28. 1,814,438 shares traded hands during trading, an increase of 48% from the average session volume of 1,223,122 shares. The stock had previously closed at $32.25.

Fidelity Ethereum Fund Price Performance

The firm’s 50 day moving average price is $24.39 and its two-hundred day moving average price is $28.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BankPlus Trust Department purchased a new stake in shares of Fidelity Ethereum Fund during the fourth quarter worth $31,000. Bank of America Corp DE lifted its holdings in Fidelity Ethereum Fund by 71.4% during the 4th quarter. Bank of America Corp DE now owns 1,800 shares of the company’s stock worth $60,000 after purchasing an additional 750 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in Fidelity Ethereum Fund during the 4th quarter worth about $119,000. Advisory Services Network LLC bought a new position in Fidelity Ethereum Fund in the 4th quarter worth about $219,000. Finally, Werba Rubin Papier Wealth Management purchased a new position in Fidelity Ethereum Fund during the 4th quarter valued at about $300,000.

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.