Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Shares Gap Up – Time to Buy?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) gapped up before the market opened on Monday . The stock had previously closed at $67.18, but opened at $71.64. Fidelity Wise Origin Bitcoin Fund shares last traded at $72.44, with a volume of 3,003,410 shares changing hands.

Fidelity Wise Origin Bitcoin Fund Stock Up 2.9 %

The stock’s 50 day moving average price is $56.65 and its 200-day moving average price is $55.77.

Institutional Investors Weigh In On Fidelity Wise Origin Bitcoin Fund

A number of institutional investors have recently bought and sold shares of FBTC. SevenBridge Financial Group LLC raised its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 12.4% in the third quarter. SevenBridge Financial Group LLC now owns 26,655 shares of the company’s stock worth $1,480,000 after buying an additional 2,947 shares during the period. Larson Financial Group LLC lifted its position in Fidelity Wise Origin Bitcoin Fund by 220.7% during the third quarter. Larson Financial Group LLC now owns 4,086 shares of the company’s stock valued at $227,000 after acquiring an additional 2,812 shares during the last quarter. KKM Financial LLC acquired a new position in shares of Fidelity Wise Origin Bitcoin Fund during the third quarter valued at about $250,000. Waddell & Associates LLC acquired a new position in shares of Fidelity Wise Origin Bitcoin Fund in the third quarter valued at about $282,000. Finally, Meridian Wealth Management LLC purchased a new stake in Fidelity Wise Origin Bitcoin Fund in the third quarter valued at $1,002,000.

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.