Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Hits New 52-Week High – Here’s Why

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $76.61 and last traded at $76.03, with a volume of 3251974 shares. The stock had previously closed at $76.14.

Fidelity Wise Origin Bitcoin Fund Stock Up 2.9 %

The company’s fifty day moving average is $56.65 and its two-hundred day moving average is $55.77.

Hedge Funds Weigh In On Fidelity Wise Origin Bitcoin Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in Fidelity Wise Origin Bitcoin Fund in the 1st quarter worth about $185,228,000. Susquehanna International Group LLP boosted its position in Fidelity Wise Origin Bitcoin Fund by 90.1% during the second quarter. Susquehanna International Group LLP now owns 2,565,485 shares of the company’s stock valued at $134,585,000 after purchasing an additional 1,216,071 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 3,549.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,715,300 shares of the company’s stock worth $89,882,000 after purchasing an additional 1,668,300 shares during the period. Envestnet Asset Management Inc. raised its position in Fidelity Wise Origin Bitcoin Fund by 24.5% during the second quarter. Envestnet Asset Management Inc. now owns 849,592 shares of the company’s stock valued at $44,570,000 after acquiring an additional 167,201 shares in the last quarter. Finally, United Capital Management of KS Inc. increased its position in shares of Fidelity Wise Origin Bitcoin Fund by 55.1% in the third quarter. United Capital Management of KS Inc. now owns 559,503 shares of the company’s stock valued at $31,069,000 after buying an additional 198,825 shares in 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.