Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Stock Price Down 7.4% – Here’s What Happened

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s share price fell 7.4% during trading on Monday . The company traded as low as $66.06 and last traded at $67.94. 2,186,163 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 4,150,289 shares. The stock had previously closed at $73.39.

Fidelity Wise Origin Bitcoin Fund Trading Down 7.2 %

The firm’s 50 day simple moving average is $79.04 and its two-hundred day simple moving average is $75.88.

Hedge Funds Weigh In On Fidelity Wise Origin Bitcoin Fund

Several institutional investors have recently made changes to their positions in FBTC. Activest Wealth Management acquired a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the 4th quarter worth about $25,000. Stephens Consulting LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 61.5% in the fourth quarter. Stephens Consulting LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 123 shares during the period. Bogart Wealth LLC acquired a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Fidelity Wise Origin Bitcoin Fund during the fourth quarter valued at approximately $37,000. Finally, Morgan Dempsey Capital Management LLC acquired a new position in shares of Fidelity Wise Origin Bitcoin Fund during the fourth quarter worth approximately $45,000.

About Fidelity Wise Origin Bitcoin Fund

The Fidelity Wise Origin Bitcoin Fund (FBTC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of bitcoin (BTC) using a Bitcoin price feed. An investment in the fund is not a direct investment in bitcoin.