Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Shares Gap Down – Should You Sell?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) shares gapped down prior to trading on Tuesday . The stock had previously closed at $82.06, but opened at $77.81. Fidelity Wise Origin Bitcoin Fund shares last traded at $76.31, with a volume of 1,799,733 shares traded.

Fidelity Wise Origin Bitcoin Fund Stock Down 7.8 %

The company’s fifty day moving average price is $85.94 and its 200-day moving average price is $71.29.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FBTC. Drucker Wealth 3.0 LLC purchased a new stake in Fidelity Wise Origin Bitcoin Fund during the fourth quarter valued at approximately $404,000. Sunbelt Securities Inc. boosted its position in shares of Fidelity Wise Origin Bitcoin Fund by 34.4% in the 4th quarter. Sunbelt Securities Inc. now owns 11,651 shares of the company’s stock worth $959,000 after purchasing an additional 2,983 shares in the last quarter. First Heartland Consultants Inc. grew its stake in Fidelity Wise Origin Bitcoin Fund by 341.3% during the 4th quarter. First Heartland Consultants Inc. now owns 23,240 shares of the company’s stock worth $1,896,000 after buying an additional 17,974 shares during the last quarter. Delta Investment Management LLC increased its position in Fidelity Wise Origin Bitcoin Fund by 66.1% during the 4th quarter. Delta Investment Management LLC now owns 7,974 shares of the company’s stock valued at $651,000 after buying an additional 3,173 shares in the last quarter. Finally, Waverly Advisors LLC purchased a new stake in Fidelity Wise Origin Bitcoin Fund in the fourth quarter valued at about $423,000.

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.