Fidelity Ethereum Fund (BATS:FETH) Trading 6.9% Higher – Here’s Why

Shares of Fidelity Ethereum Fund (BATS:FETH) shot up 6.9% during trading on Friday . The company traded as high as $20.66 and last traded at $20.40. 3,863,285 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 5,432,229 shares. The stock had previously closed at $19.09.

Fidelity Ethereum Fund Stock Performance

The firm has a 50 day moving average price of $28.46 and a two-hundred day moving average price of $35.43.

Institutional Investors Weigh In On Fidelity Ethereum Fund

A number of hedge funds have recently bought and sold shares of FETH. IFP Advisors Inc increased its holdings in Fidelity Ethereum Fund by 12.9% during the 2nd quarter. IFP Advisors Inc now owns 3,072 shares of the company’s stock worth $77,000 after purchasing an additional 350 shares during the last quarter. BankPlus Trust Department grew its position in shares of Fidelity Ethereum Fund by 21.2% during the fourth quarter. BankPlus Trust Department now owns 2,421 shares of the company’s stock worth $72,000 after buying an additional 423 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Fidelity Ethereum Fund by 30.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,106 shares of the company’s stock worth $62,000 after buying an additional 486 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Fidelity Ethereum Fund by 11.5% in the fourth quarter. Kestra Advisory Services LLC now owns 6,172 shares of the company’s stock worth $183,000 after buying an additional 637 shares during the last quarter. Finally, Guerra Advisors Inc bought a new stake in shares of Fidelity Ethereum Fund in the third quarter worth $30,000.

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.