Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Shares Gap Down – Should You Sell?

Shares of Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) gapped down prior to trading on Thursday . The stock had previously closed at $86.42, but opened at $83.58. Fidelity Wise Origin Bitcoin Fund shares last traded at $83.22, with a volume of 619,534 shares traded.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The stock’s 50-day moving average is $77.40 and its two-hundred day moving average is $62.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Canton Hathaway LLC purchased a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the third quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Fidelity Wise Origin Bitcoin Fund during the 2nd quarter worth approximately $27,000. Cordant Inc. purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund in the third quarter valued at $31,000. Hexagon Capital Partners LLC purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund in the third quarter valued at $32,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Fidelity Wise Origin Bitcoin Fund in the second quarter worth $41,000.

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.