Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Trading Up 4% – What’s Next?

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) traded up 4% during trading on Wednesday . The company traded as high as $23.03 and last traded at $22.95. 178,873 shares changed hands during trading, a decline of 9% from the average session volume of 195,503 shares. The stock had previously closed at $22.07.

Bitwise Crypto Industry Innovators ETF Stock Performance

The firm has a market cap of $406.90 million, a price-to-earnings ratio of 27.61 and a beta of 3.17. The business’s 50 day moving average price is $25.69 and its 200 day moving average price is $21.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new position in shares of Bitwise Crypto Industry Innovators ETF in the third quarter worth about $28,000. Advantage Trust Co purchased a new position in shares of Bitwise Crypto Industry Innovators ETF in the 2nd quarter valued at about $93,000. Farther Finance Advisors LLC raised its holdings in Bitwise Crypto Industry Innovators ETF by 117.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,443 shares of the company’s stock worth $136,000 after purchasing an additional 2,936 shares during the period. Sunbelt Securities Inc. boosted its position in Bitwise Crypto Industry Innovators ETF by 19.5% during the third quarter. Sunbelt Securities Inc. now owns 8,197 shares of the company’s stock worth $205,000 after purchasing an additional 1,337 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Bitwise Crypto Industry Innovators ETF in the second quarter valued at approximately $412,000.

About Bitwise Crypto Industry Innovators ETF

The Bitwise Crypto Industry Innovators ETF (BITQ) is an exchange-traded fund that is based on the Bitwise Crypto Innovators 30 index. The fund is passively managed to track a modified market-cap-weighted index of global companies supporting a crypto-asset-enabled decentralized economy. BITQ was launched on May 11, 2021 and is managed by Bitwise.