Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Stock Price Down 2.1% – Time to Sell?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s stock price dropped 2.1% during trading on Friday . The company traded as low as $94.36 and last traded at $94.98. Approximately 3,874,424 shares were traded during trading, a decline of 4% from the average daily volume of 4,024,538 shares. The stock had previously closed at $97.06.

Fidelity Wise Origin Bitcoin Fund Price Performance

The company’s fifty day simple moving average is $79.95 and its 200 day simple moving average is $81.87.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new position in Fidelity Wise Origin Bitcoin Fund in the 4th quarter worth $25,000. Stephens Consulting LLC raised its holdings in Fidelity Wise Origin Bitcoin Fund by 61.5% in the 4th quarter. Stephens Consulting LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. NBT Bank N A NY raised its holdings in Fidelity Wise Origin Bitcoin Fund by 648.1% in the 1st quarter. NBT Bank N A NY now owns 404 shares of the company’s stock worth $29,000 after purchasing an additional 350 shares in the last quarter. Bogart Wealth LLC bought a new position in Fidelity Wise Origin Bitcoin Fund in the 4th quarter worth $32,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Fidelity Wise Origin Bitcoin Fund in the 4th quarter worth $37,000.

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.