Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Stock Price Down 4.4% – Here’s Why

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s share price dropped 4.4% during trading on Monday . The stock traded as low as $82.54 and last traded at $82.91. Approximately 6,827,906 shares were traded during trading, a decline of 10% from the average daily volume of 7,559,500 shares. The stock had previously closed at $86.73.

Fidelity Wise Origin Bitcoin Fund Trading Down 4.4 %

The company has a fifty day simple moving average of $62.20 and a two-hundred day simple moving average of $57.51.

Institutional Investors Weigh In On Fidelity Wise Origin Bitcoin Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC boosted its holdings in Fidelity Wise Origin Bitcoin Fund by 4.1% during the third quarter. Pallas Capital Advisors LLC now owns 4,697 shares of the company’s stock valued at $281,000 after acquiring an additional 186 shares during the period. Horizon Kinetics Asset Management LLC boosted its stake in Fidelity Wise Origin Bitcoin Fund by 3.7% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,916 shares of the company’s stock valued at $329,000 after purchasing an additional 211 shares during the period. Atlas Financial Advisors Inc. grew its holdings in Fidelity Wise Origin Bitcoin Fund by 5.9% in the 2nd quarter. Atlas Financial Advisors Inc. now owns 4,013 shares of the company’s stock valued at $211,000 after buying an additional 224 shares during the last quarter. Sweeney & Michel LLC increased its position in Fidelity Wise Origin Bitcoin Fund by 3.3% in the 3rd quarter. Sweeney & Michel LLC now owns 8,503 shares of the company’s stock worth $510,000 after buying an additional 268 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 1.3% during the third quarter. EP Wealth Advisors LLC now owns 22,269 shares of the company’s stock worth $1,237,000 after buying an additional 277 shares during the last quarter.

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.