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

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $81.16, but opened at $84.56. Fidelity Wise Origin Bitcoin Fund shares last traded at $85.15, with a volume of 797,987 shares trading hands.

Fidelity Wise Origin Bitcoin Fund Trading Up 5.4 %

The stock has a fifty day moving average of $74.88 and a two-hundred day moving average of $61.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canton Hathaway LLC purchased a new stake in Fidelity Wise Origin Bitcoin Fund during the 3rd quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Fidelity Wise Origin Bitcoin Fund in the second quarter valued at approximately $27,000. Cordant Inc. purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund during the third quarter valued at approximately $31,000. Hexagon Capital Partners LLC acquired a new stake in Fidelity Wise Origin Bitcoin Fund during the third quarter worth approximately $32,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Fidelity Wise Origin Bitcoin Fund in the 2nd quarter worth approximately $41,000.

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.