Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Stock Price Down 7.4% – Should You Sell?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s stock price was down 7.4% during mid-day trading on Monday . The company traded as low as $66.06 and last traded at $67.94. Approximately 2,186,163 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 4,150,289 shares. The stock had previously closed at $73.39.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The firm’s 50-day simple moving average is $77.72 and its 200 day simple moving average is $75.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC increased its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 16.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,530,865 shares of the company’s stock worth $451,208,000 after buying an additional 785,215 shares in the last quarter. Capula Management Ltd increased its holdings in Fidelity Wise Origin Bitcoin Fund by 5.1% in the 4th quarter. Capula Management Ltd now owns 5,450,078 shares of the company’s stock worth $444,617,000 after purchasing an additional 263,537 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in Fidelity Wise Origin Bitcoin Fund by 13.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,378,000 shares of the company’s stock valued at $357,070,000 after purchasing an additional 517,700 shares during the last quarter. Bracebridge Capital LLC bought a new position in Fidelity Wise Origin Bitcoin Fund in the fourth quarter valued at about $323,709,000. Finally, HBK Investments L P grew its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 14.4% during the fourth quarter. HBK Investments L P now owns 2,805,036 shares of the company’s stock worth $228,835,000 after purchasing an additional 354,016 shares during 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.