Fidelity Ethereum Fund (BATS:FETH) Sees Significant Drop in Short Interest

Fidelity Ethereum Fund (BATS:FETH) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 948,295 shares, a decline of 49.9% from the April 30th total of 1,892,184 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average trading volume of 1,628,990 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of Fidelity Ethereum Fund by 393.8% in the 3rd quarter. Millennium Management LLC now owns 2,888,253 shares of the company’s stock valued at $120,007,000 after purchasing an additional 2,303,389 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Fidelity Ethereum Fund by 663.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,227,277 shares of the company’s stock valued at $50,993,000 after purchasing an additional 1,066,477 shares during the period. Kaleidoscope Capital LP acquired a new stake in Fidelity Ethereum Fund during the 3rd quarter worth about $27,326,000. Jane Street Group LLC boosted its position in Fidelity Ethereum Fund by 35.9% during the 2nd quarter. Jane Street Group LLC now owns 1,882,006 shares of the company’s stock worth $47,370,000 after acquiring an additional 496,687 shares during the period. Finally, Capula Management Ltd boosted its position in Fidelity Ethereum Fund by 21.1% during the 3rd quarter. Capula Management Ltd now owns 2,174,929 shares of the company’s stock worth $90,368,000 after acquiring an additional 378,733 shares during the period.

Fidelity Ethereum Fund Price Performance

BATS:FETH opened at $20.07 on Monday. The business’s 50-day moving average price is $21.94 and its 200 day moving average price is $25.12. Fidelity Ethereum Fund has a 52-week low of $17.98 and a 52-week high of $48.56.

Fidelity Ethereum Fund Company Profile

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.