Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Hits New 12-Month High – Should You Buy?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) reached a new 52-week high during trading on Monday . The company traded as high as $90.98 and last traded at $90.98, with a volume of 74417 shares traded. The stock had previously closed at $88.94.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The business’s 50-day moving average price is $72.97 and its 200 day moving average price is $60.84.

Institutional Trading of Fidelity Wise Origin Bitcoin Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SMART Wealth LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 79.7% in the third quarter. SMART Wealth LLC now owns 23,490 shares of the company’s stock worth $1,304,000 after buying an additional 10,417 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 6.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 10,440 shares of the company’s stock worth $575,000 after buying an additional 628 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 11.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 53,569 shares of the company’s stock worth $2,975,000 after buying an additional 5,706 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 11.2% in the third quarter. Tidal Investments LLC now owns 199,499 shares of the company’s stock worth $11,078,000 after buying an additional 20,083 shares during the last quarter. Finally, Sfmg LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 508.3% in the third quarter. Sfmg LLC now owns 37,577 shares of the company’s stock worth $2,087,000 after buying an additional 31,400 shares during 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.