Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) Trading Up 2.8% – Should You Buy?

Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) was up 2.8% during mid-day trading on Friday . The company traded as high as $68.28 and last traded at $67.48. Approximately 6,898,972 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 6,229,625 shares. The stock had previously closed at $65.63.

Fidelity Wise Origin Bitcoin Fund Price Performance

The stock’s 50-day moving average price is $60.69 and its 200-day moving average price is $76.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Curran Financial Partners LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 46.8% in the 3rd quarter. Curran Financial Partners LLC now owns 4,848 shares of the company’s stock valued at $484,000 after acquiring an additional 1,545 shares in the last quarter. Brighton Jones LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 32.7% in the 3rd quarter. Brighton Jones LLC now owns 11,693 shares of the company’s stock valued at $1,167,000 after acquiring an additional 2,880 shares in the last quarter. Flputnam Investment Management Co. bought a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the 3rd quarter valued at $200,000. U.S. Capital Wealth Advisors LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 47.9% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 12,987 shares of the company’s stock valued at $1,296,000 after acquiring an additional 4,207 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 1.0% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 308,246 shares of the company’s stock valued at $30,766,000 after acquiring an additional 2,997 shares in the last quarter.

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. FBTC was launched on Jan 10, 2024 and is issued by Fidelity.