Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Trading Up 7.4% – Still a Buy?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC)’s share price rose 7.4% on Wednesday . The stock traded as high as $60.61 and last traded at $60.30. Approximately 6,239,369 shares were traded during trading, a decline of 14% from the average daily volume of 7,269,896 shares. The stock had previously closed at $56.13.

Fidelity Wise Origin Bitcoin Fund Stock Up 7.4%

The business’s 50 day moving average price is $71.60 and its 200-day moving average price is $85.53.

Institutional Trading of Fidelity Wise Origin Bitcoin Fund

Several large investors have recently made changes to their positions in FBTC. Morgan Stanley raised its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 34,634,200.0% in the fourth quarter. Morgan Stanley now owns 692,686 shares of the company’s stock valued at $52,803,000 after buying an additional 692,684 shares during the last quarter. Consolidated Portfolio Review Corp raised its stake in shares of Fidelity Wise Origin Bitcoin Fund by 441.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 834,367 shares of the company’s stock worth $63,604,000 after acquiring an additional 680,313 shares during the last quarter. Capula Management Ltd lifted its position in shares of Fidelity Wise Origin Bitcoin Fund by 41.1% during the third quarter. Capula Management Ltd now owns 2,112,794 shares of the company’s stock worth $210,878,000 after purchasing an additional 615,620 shares in the last quarter. Millennium Management LLC lifted its position in shares of Fidelity Wise Origin Bitcoin Fund by 5.9% during the third quarter. Millennium Management LLC now owns 7,447,005 shares of the company’s stock worth $743,286,000 after purchasing an additional 414,799 shares in the last quarter. Finally, HBK Investments L P grew its stake in shares of Fidelity Wise Origin Bitcoin Fund by 77.0% during the second quarter. HBK Investments L P now owns 780,164 shares of the company’s stock valued at $73,328,000 after purchasing an additional 339,498 shares during the last quarter.

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.