Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Hits New 12-Month High – Should You Buy?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) reached a new 52-week high during trading on Tuesday . The company traded as high as $81.99 and last traded at $81.62, with a volume of 4129445 shares. The stock had previously closed at $80.12.

Fidelity Wise Origin Bitcoin Fund Stock Up 1.0 %

The company’s 50 day moving average is $59.57 and its 200 day moving average is $56.68.

Institutional Investors Weigh In On Fidelity Wise Origin Bitcoin Fund

Several hedge funds have recently made changes to their positions in FBTC. Covestor Ltd purchased a new stake in Fidelity Wise Origin Bitcoin Fund in the first quarter worth about $106,000. Wellington Wealth Strategies LLC. purchased a new stake in shares of Fidelity Wise Origin Bitcoin Fund in the 1st quarter worth approximately $583,000. OLD Mission Capital LLC bought a new position in shares of Fidelity Wise Origin Bitcoin Fund during the first quarter valued at approximately $3,698,000. EP Wealth Advisors LLC bought a new position in Fidelity Wise Origin Bitcoin Fund in the first quarter worth approximately $1,307,000. Finally, Senator Investment Group LP purchased a new stake in Fidelity Wise Origin Bitcoin Fund during the first quarter worth $1,764,000.

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.