Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) Sets New 12-Month Low – What’s Next?

Fidelity Wise Origin Bitcoin Fund (BATS:FBTC)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $52.24 and last traded at $52.3650, with a volume of 3755359 shares traded. The stock had previously closed at $55.27.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The company’s 50-day moving average price is $64.51 and its 200-day moving average price is $68.86.

Institutional Investors Weigh In On Fidelity Wise Origin Bitcoin Fund

Institutional investors have recently modified their holdings of the company. Libra Wealth LLC raised its position in Fidelity Wise Origin Bitcoin Fund by 21.4% in the 3rd quarter. Libra Wealth LLC now owns 50,443 shares of the company’s stock valued at $5,035,000 after purchasing an additional 8,904 shares during the last quarter. Pennsylvania Capital Management Inc. ADV increased its stake in Fidelity Wise Origin Bitcoin Fund by 18.3% in the third quarter. Pennsylvania Capital Management Inc. ADV now owns 3,458 shares of the company’s stock valued at $345,000 after purchasing an additional 536 shares during the period. Stratos Wealth Advisors LLC increased its stake in Fidelity Wise Origin Bitcoin Fund by 90.3% in the third quarter. Stratos Wealth Advisors LLC now owns 14,693 shares of the company’s stock valued at $1,467,000 after purchasing an additional 6,973 shares during the period. Willis Johnson & Associates Inc. increased its stake in Fidelity Wise Origin Bitcoin Fund by 10.7% in the third quarter. Willis Johnson & Associates Inc. now owns 8,133 shares of the company’s stock valued at $812,000 after purchasing an additional 783 shares during the period. Finally, Savant Capital LLC increased its stake in Fidelity Wise Origin Bitcoin Fund by 39.3% in the third quarter. Savant Capital LLC now owns 7,112 shares of the company’s stock valued at $710,000 after purchasing an additional 2,006 shares during the period.

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.