Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC – Get Free Report)’s share price dropped 2.8% on Wednesday . The stock traded as low as $49.17 and last traded at $49.30. Approximately 782,769 shares were traded during trading, a decline of 90% from the average daily volume of 8,191,317 shares. The stock had previously closed at $50.70.
Fidelity Wise Origin Bitcoin Fund Stock Down 3.5 %
The stock’s fifty day moving average price is $53.31 and its 200-day moving average price is $55.72.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in FBTC. Jane Street Group LLC acquired a new position in Fidelity Wise Origin Bitcoin Fund in the 1st quarter valued at about $185,228,000. D. E. Shaw & Co. Inc. increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 3,549.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,715,300 shares of the company’s stock worth $89,882,000 after purchasing an additional 1,668,300 shares during the period. Susquehanna International Group LLP increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 90.1% during the second quarter. Susquehanna International Group LLP now owns 2,565,485 shares of the company’s stock worth $134,585,000 after purchasing an additional 1,216,071 shares during the period. IMC Chicago LLC acquired a new stake in Fidelity Wise Origin Bitcoin Fund during the 1st quarter worth approximately $22,893,000. Finally, Legacy Wealth Asset Management LLC bought a new stake in Fidelity Wise Origin Bitcoin Fund in the 1st quarter valued at $21,882,000.
Fidelity Wise Origin Bitcoin Fund Company Profile
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.
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