Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Shares Down 0.9% – Time to Sell?

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ)’s stock price was down 0.9% during mid-day trading on Monday . The company traded as low as $21.76 and last traded at $21.80. Approximately 307,231 shares traded hands during trading, an increase of 103% from the average daily volume of 151,333 shares. The stock had previously closed at $21.99.

Bitwise Crypto Industry Innovators ETF Stock Performance

The stock has a market cap of $270.32 million, a PE ratio of 27.61 and a beta of 2.72. The stock has a fifty day simple moving average of $18.55 and a two-hundred day simple moving average of $16.45.

Institutional Investors Weigh In On Bitwise Crypto Industry Innovators ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its holdings in Bitwise Crypto Industry Innovators ETF by 59.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,754 shares of the company’s stock worth $47,000 after acquiring an additional 1,024 shares during the period. OLD Mission Capital LLC bought a new stake in shares of Bitwise Crypto Industry Innovators ETF during the fourth quarter valued at approximately $175,000. Rothschild Investment LLC boosted its stake in shares of Bitwise Crypto Industry Innovators ETF by 32.9% in the 1st quarter. Rothschild Investment LLC now owns 24,250 shares of the company’s stock valued at $294,000 after purchasing an additional 6,000 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Bitwise Crypto Industry Innovators ETF by 12.8% during the first quarter. AdvisorNet Financial Inc now owns 32,509 shares of the company’s stock worth $395,000 after purchasing an additional 3,695 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Bitwise Crypto Industry Innovators ETF by 238.7% during the first quarter. Janney Montgomery Scott LLC now owns 103,309 shares of the company’s stock valued at $1,254,000 after acquiring an additional 72,809 shares during the period.

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.