Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) Reaches New 12-Month High – Still a Buy?

Fidelity Wise Origin Bitcoin Fund (NYSEARCA:FBTC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $64.43 and last traded at $64.38, with a volume of 7359151 shares trading hands. The stock had previously closed at $60.93.

Fidelity Wise Origin Bitcoin Fund Price Performance

The firm’s 50-day moving average is $54.77 and its 200-day moving average is $55.29.

Hedge Funds Weigh In On Fidelity Wise Origin Bitcoin Fund

Several large investors have recently bought and sold shares of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Fidelity Wise Origin Bitcoin Fund in the 1st quarter valued at about $271,000. Choreo LLC purchased a new position in Fidelity Wise Origin Bitcoin Fund during the 1st quarter valued at about $268,000. Proficio Capital Partners LLC purchased a new position in Fidelity Wise Origin Bitcoin Fund during the 1st quarter valued at about $508,000. Smart Money Group LLC purchased a new position in Fidelity Wise Origin Bitcoin Fund during the 1st quarter valued at about $3,122,000. Finally, Peregrine Asset Advisers Inc. purchased a new position in Fidelity Wise Origin Bitcoin Fund during the 1st quarter valued at about $2,631,000.

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.