Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Shares Down 1.1% – Time to Sell?

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) fell 1.1% during trading on Monday . The company traded as low as $27.50 and last traded at $27.55. Approximately 58,816 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 201,788 shares. The stock had previously closed at $27.87.

Bitwise Crypto Industry Innovators ETF Trading Down 1.1%

The company has a market capitalization of $504.17 million, a PE ratio of 27.61 and a beta of 3.11. The firm’s 50-day simple moving average is $26.08 and its 200-day simple moving average is $22.76.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in shares of Bitwise Crypto Industry Innovators ETF in the 3rd quarter worth $28,000. Fifth Third Bancorp lifted its stake in Bitwise Crypto Industry Innovators ETF by 88.3% in the first quarter. Fifth Third Bancorp now owns 1,966 shares of the company’s stock worth $37,000 after acquiring an additional 922 shares during the period. Sound Income Strategies LLC bought a new position in Bitwise Crypto Industry Innovators ETF during the 4th quarter worth about $43,000. Sankala Group LLC purchased a new position in Bitwise Crypto Industry Innovators ETF during the 4th quarter valued at about $60,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Bitwise Crypto Industry Innovators ETF by 53.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,442 shares of the company’s stock valued at $69,000 after purchasing an additional 1,202 shares in the last quarter.

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.