Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Trading Up 6.5% – Here’s Why

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) shares shot up 6.5% during mid-day trading on Tuesday . The company traded as high as $79.48 and last traded at $79.3350. 2,953,420 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 4,320,740 shares. The stock had previously closed at $74.52.

Fidelity Wise Origin Bitcoin Fund Price Performance

The stock’s 50-day moving average is $91.40 and its 200-day moving average is $95.43.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FBTC. Avalon Trust Co bought a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the 3rd quarter worth $25,000. Briaud Financial Planning Inc acquired a new position in Fidelity Wise Origin Bitcoin Fund during the second quarter worth about $27,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Fidelity Wise Origin Bitcoin Fund in the third quarter worth about $30,000. Anfield Capital Management LLC acquired a new stake in Fidelity Wise Origin Bitcoin Fund in the 3rd quarter valued at about $30,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in Fidelity Wise Origin Bitcoin Fund in the 3rd quarter valued at about $31,000.

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.