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

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) shares gapped down prior to trading on Monday . The stock had previously closed at $73.02, but opened at $68.02. Fidelity Wise Origin Bitcoin Fund shares last traded at $68.48, with a volume of 4,967,994 shares.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The stock’s fifty day moving average is $77.52 and its two-hundred day moving average is $90.05.

Institutional Trading of Fidelity Wise Origin Bitcoin Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Avalon Trust Co bought a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the 3rd quarter worth approximately $25,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Fidelity Wise Origin Bitcoin Fund in the fourth quarter worth about $26,000. Briaud Financial Planning Inc bought a new position in Fidelity Wise Origin Bitcoin Fund during the 2nd quarter valued at approximately $27,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Fidelity Wise Origin Bitcoin Fund during the third quarter valued at $30,000. Finally, Anfield Capital Management LLC bought a new stake in Fidelity Wise Origin Bitcoin Fund during the 3rd quarter valued at about $30,000.

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.