Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Reaches New 12-Month Low – Here’s Why

Shares of Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $63.46 and last traded at $65.90, with a volume of 11202275 shares traded. The stock had previously closed at $67.89.

Fidelity Wise Origin Bitcoin Fund Stock Performance

The company has a 50 day simple moving average of $78.00 and a two-hundred day simple moving average of $90.49.

Hedge Funds Weigh In On Fidelity Wise Origin Bitcoin Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Citizens National Bank Trust Department increased its position in shares of Fidelity Wise Origin Bitcoin Fund by 11.8% during the second quarter. Citizens National Bank Trust Department now owns 1,230 shares of the company’s stock worth $116,000 after purchasing an additional 130 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Fidelity Wise Origin Bitcoin Fund by 8.0% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 90,931 shares of the company’s stock worth $8,547,000 after purchasing an additional 6,716 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 430.8% during the second quarter. Joel Isaacson & Co. LLC now owns 34,192 shares of the company’s stock worth $3,214,000 after buying an additional 27,750 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 5.8% during the second quarter. Belpointe Asset Management LLC now owns 12,173 shares of the company’s stock worth $1,144,000 after buying an additional 667 shares in the last quarter. Finally, Grimes & Company Inc. acquired a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the second quarter valued at about $352,000.

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. FBTC was launched on Jan 10, 2024 and is issued by Fidelity.