Fidelity Ethereum Fund (BATS:FETH) Shares Down 17.8% – Time to Sell?

Fidelity Ethereum Fund (BATS:FETH) traded down 17.8% during mid-day trading on Thursday . The stock traded as low as $32.81 and last traded at $26.52. 1,814,438 shares traded hands during trading, The stock had previously closed at $32.25.

Fidelity Ethereum Fund Stock Performance

The firm’s 50-day moving average is $33.04 and its 200-day moving average is $29.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FETH. Jane Street Group LLC lifted its stake in shares of Fidelity Ethereum Fund by 499.8% in the fourth quarter. Jane Street Group LLC now owns 11,092,387 shares of the company’s stock worth $370,597,000 after buying an additional 9,243,019 shares in the last quarter. FMR LLC bought a new position in shares of Fidelity Ethereum Fund in the third quarter worth approximately $18,828,000. HBK Investments L P lifted its stake in shares of Fidelity Ethereum Fund by 112.3% in the fourth quarter. HBK Investments L P now owns 693,523 shares of the company’s stock worth $23,171,000 after buying an additional 366,898 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Fidelity Ethereum Fund during the fourth quarter valued at approximately $9,655,000. Finally, Wolverine Asset Management LLC bought a new position in Fidelity Ethereum Fund during the fourth quarter valued at approximately $5,457,000.