Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Shares Down 7.6%

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) shares fell 7.6% during trading on Friday . The stock traded as low as $48.50 and last traded at $48.83. 2,119,414 shares traded hands during trading, a decline of 76% from the average session volume of 8,963,414 shares. The stock had previously closed at $52.87.

Fidelity Wise Origin Bitcoin Fund Price Performance

The business has a 50-day moving average of $56.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FBTC. Comerica Bank purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 1st quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 2nd quarter valued at approximately $31,000. Pathway Financial Advisers LLC purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 1st quarter valued at approximately $39,000. Centerpoint Advisors LLC purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 1st quarter valued at approximately $54,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Fidelity Wise Origin Bitcoin Fund in the 1st quarter valued at approximately $56,000.

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.