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

Shares of Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) gapped up prior to trading on Monday . The stock had previously closed at $73.50, but opened at $81.42. Fidelity Wise Origin Bitcoin Fund shares last traded at $78.19, with a volume of 2,494,380 shares traded.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The company has a 50 day moving average price of $84.88 and a 200-day moving average price of $71.91.

Institutional Investors Weigh In On Fidelity Wise Origin Bitcoin Fund

Several institutional investors and hedge funds have recently modified their holdings of FBTC. Activest Wealth Management purchased a new stake in Fidelity Wise Origin Bitcoin Fund in the fourth quarter worth $25,000. Canton Hathaway LLC purchased a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the 3rd quarter worth about $26,000. Stephens Consulting LLC increased its stake in shares of Fidelity Wise Origin Bitcoin Fund by 61.5% in the 4th quarter. Stephens Consulting LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 4th quarter worth about $32,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Fidelity Wise Origin Bitcoin Fund during the 4th quarter valued at about $37,000.

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.