Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Shares Gap Up – Here’s What Happened

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) gapped up before the market opened on Friday . The stock had previously closed at $52.15, but opened at $53.67. Fidelity Wise Origin Bitcoin Fund shares last traded at $53.75, with a volume of 662,969 shares changing hands.

Fidelity Wise Origin Bitcoin Fund Stock Up 4.3 %

The business has a 50 day moving average price of $52.62 and a 200 day moving average price of $55.46.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FBTC. Atlas Financial Advisors Inc. boosted 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 purchasing an additional 224 shares during the last quarter. Sweeney & Michel LLC raised its position in Fidelity Wise Origin Bitcoin Fund by 3.8% in the second quarter. Sweeney & Michel LLC now owns 8,235 shares of the company’s stock valued at $417,000 after purchasing an additional 300 shares during the period. CRA Financial Services LLC lifted its stake in shares of Fidelity Wise Origin Bitcoin Fund by 6.3% in the 2nd quarter. CRA Financial Services LLC now owns 6,244 shares of the company’s stock valued at $328,000 after purchasing an additional 369 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 5.9% during the 2nd quarter. Parallel Advisors LLC now owns 7,630 shares of the company’s stock worth $400,000 after purchasing an additional 424 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Fidelity Wise Origin Bitcoin Fund during the 1st quarter worth about $28,000.

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.