Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Shares Down 4.4% – Should You Sell?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) shares traded down 4.4% during trading on Monday . The stock traded as low as $82.54 and last traded at $82.91. 6,827,906 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 7,559,500 shares. The stock had previously closed at $86.73.

Fidelity Wise Origin Bitcoin Fund Trading Up 6.4 %

The stock’s fifty day moving average price is $64.03 and its 200-day moving average price is $58.08.

Hedge Funds Weigh In On Fidelity Wise Origin Bitcoin Fund

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