Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Hits New 52-Week High – Should You Buy?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) reached a new 52-week high during trading on Monday . The company traded as high as $90.98 and last traded at $90.98, with a volume of 74417 shares. The stock had previously closed at $88.94.

Fidelity Wise Origin Bitcoin Fund Stock Up 3.9 %

The business has a 50 day moving average price of $71.45 and a 200 day moving average price of $60.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Fidelity Wise Origin Bitcoin Fund during the second quarter valued at $41,000. Centerpoint Advisors LLC lifted its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 63.5% during the second quarter. Centerpoint Advisors LLC now owns 1,416 shares of the company’s stock valued at $74,000 after purchasing an additional 550 shares in the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Fidelity Wise Origin Bitcoin Fund by 27.5% during the second quarter. AM Investment Strategies LLC now owns 9,455 shares of the company’s stock valued at $496,000 after purchasing an additional 2,040 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Fidelity Wise Origin Bitcoin Fund during the second quarter valued at $357,000. Finally, Aries Wealth Management bought a new position in Fidelity Wise Origin Bitcoin Fund in the second quarter valued at about $260,000.

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.