Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) Stock Price Up 5.9% – Still a Buy?

Fidelity Wise Origin Bitcoin Fund (BATS:FBTC)’s stock price rose 5.9% during mid-day trading on Friday . The company traded as high as $67.79 and last traded at $67.02. 7,651,563 shares were traded during trading, an increase of 52% from the average daily volume of 5,027,387 shares. The stock had previously closed at $63.27.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The stock has a 50 day simple moving average of $55.69 and a 200 day simple moving average of $60.13.

Hedge Funds Weigh In On Fidelity Wise Origin Bitcoin Fund

Hedge funds have recently bought and sold shares of the company. Morgan Stanley boosted its position in shares of Fidelity Wise Origin Bitcoin Fund by 34,634,200.0% during the 4th quarter. Morgan Stanley now owns 692,686 shares of the company’s stock worth $52,803,000 after acquiring an additional 692,684 shares in the last quarter. Syon Capital LLC lifted its stake in Fidelity Wise Origin Bitcoin Fund by 5,961.8% during the second quarter. Syon Capital LLC now owns 283,149 shares of the company’s stock worth $14,455,000 after purchasing an additional 278,478 shares during the last quarter. Cantor Fitzgerald L. P. boosted its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 24.2% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,280,931 shares of the company’s stock valued at $97,645,000 after purchasing an additional 250,000 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 6,152.9% in the 1st quarter. Diversify Wealth Management LLC now owns 226,169 shares of the company’s stock valued at $13,351,000 after purchasing an additional 222,552 shares in the last quarter. Finally, Bayshore Capital Advisors LLC bought a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 4th quarter valued at $12,528,000.

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. FBTC was launched on Jan 10, 2024 and is issued by Fidelity.