Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Shares Down 4.4% – Here’s Why

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 were traded during 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 Stock Down 4.4 %

The business’s fifty day moving average is $62.20 and its two-hundred day moving average is $57.51.

Hedge Funds Weigh In On Fidelity Wise Origin Bitcoin Fund

Hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Fidelity Wise Origin Bitcoin Fund during the second quarter worth about $26,000. Canton Hathaway LLC acquired a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 3rd quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Fidelity Wise Origin Bitcoin Fund during the 2nd quarter worth $27,000. Comerica Bank acquired a new position in Fidelity Wise Origin Bitcoin Fund in the first quarter valued at about $28,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in Fidelity Wise Origin Bitcoin Fund in the second quarter valued at about $31,000.

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.