Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Shares Down 3.2% – Here’s Why

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) shares traded down 3.2% during mid-day trading on Friday . The stock traded as low as $20.61 and last traded at $20.72. 134,418 shares changed hands during trading, a decline of 30% from the average session volume of 192,115 shares. The stock had previously closed at $21.41.

Bitwise Crypto Industry Innovators ETF Stock Performance

The company has a market capitalization of $367.37 million, a price-to-earnings ratio of 27.61 and a beta of 3.17. The firm has a 50-day simple moving average of $23.82 and a two-hundred day simple moving average of $22.45.

Institutional Investors Weigh In On Bitwise Crypto Industry Innovators ETF

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

Bitwise Crypto Industry Innovators ETF Company Profile

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.