Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Stock Price Down 3.1%

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s stock price dropped 3.1% on Monday . The stock traded as low as $53.96 and last traded at $54.03. Approximately 1,045,345 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 11,100,101 shares. The stock had previously closed at $55.75.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The company’s fifty day simple moving average is $56.83.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FBTC. Traynor Capital Management Inc. purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund during the first quarter worth $3,484,000. Financial Synergies Wealth Advisors Inc. purchased a new position in Fidelity Wise Origin Bitcoin Fund in the first quarter valued at $104,000. IMC Chicago LLC purchased a new position in Fidelity Wise Origin Bitcoin Fund in the first quarter valued at $22,893,000. Kingswood Wealth Advisors LLC purchased a new position in Fidelity Wise Origin Bitcoin Fund in the first quarter valued at $4,540,000. Finally, Brookstone Capital Management purchased a new position in Fidelity Wise Origin Bitcoin Fund in the first quarter valued at $5,291,000.

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.