Short Interest in Fidelity Ethereum Fund (BATS:FETH) Drops By 38.4%

Fidelity Ethereum Fund (BATS:FETH) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 611,000 shares, a decline of 38.4% from the June 30th total of 992,511 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 1,727,141 shares, the days-to-cover ratio is currently 0.4 days.

Fidelity Ethereum Fund Stock Performance

Shares of Fidelity Ethereum Fund stock opened at $18.58 on Friday. The business has a fifty day simple moving average of $17.90 and a 200-day simple moving average of $21.15. Fidelity Ethereum Fund has a fifty-two week low of $15.22 and a fifty-two week high of $48.56.

Institutional Trading of Fidelity Ethereum Fund

Several hedge funds have recently added to or reduced their stakes in FETH. Parkside Financial Bank & Trust bought a new position in shares of Fidelity Ethereum Fund during the 4th quarter worth approximately $31,000. Headlands Technologies LLC acquired a new position in Fidelity Ethereum Fund during the second quarter worth $33,000. PNC Financial Services Group Inc. acquired a new position in Fidelity Ethereum Fund during the fourth quarter worth $59,000. Bank of America Corp DE lifted 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 valued at $60,000 after acquiring an additional 750 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings 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 valued at $62,000 after acquiring an additional 486 shares during the period.

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.