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

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s stock price fell 7.4% during mid-day trading on Monday . The stock traded as low as $66.06 and last traded at $67.94. 2,186,163 shares changed 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 business has a fifty day moving average price of $79.04 and a 200 day moving average price of $75.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors acquired a new position in Fidelity Wise Origin Bitcoin Fund during the third quarter worth about $208,000. HighTower Advisors LLC boosted its stake in shares of Fidelity Wise Origin Bitcoin Fund by 16.0% during the 3rd quarter. HighTower Advisors LLC now owns 258,033 shares of the company’s stock worth $14,306,000 after acquiring an additional 35,549 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Fidelity Wise Origin Bitcoin Fund by 34.0% during the third quarter. Integrated Wealth Concepts LLC now owns 5,137 shares of the company’s stock worth $285,000 after purchasing an additional 1,303 shares during the period. Wellington Management Group LLP raised its position in shares of Fidelity Wise Origin Bitcoin Fund by 2.6% during the third quarter. Wellington Management Group LLP now owns 299,632 shares of the company’s stock worth $16,639,000 after purchasing an additional 7,500 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in shares of Fidelity Wise Origin Bitcoin Fund by 1.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 22,269 shares of the company’s stock valued at $1,237,000 after purchasing an additional 277 shares during the period.

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.