Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Shares Up 3.9% – Time to Buy?

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) shares rose 3.9% during trading on Monday . The company traded as high as $20.27 and last traded at $20.11. Approximately 222,140 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 287,925 shares. The stock had previously closed at $19.36.

Bitwise Crypto Industry Innovators ETF Trading Up 3.9%

The stock’s fifty day moving average price is $21.01 and its 200 day moving average price is $22.90. The stock has a market cap of $390.54 million, a P/E ratio of 27.61 and a beta of 3.17.

Institutional Investors Weigh In On Bitwise Crypto Industry Innovators ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Bitwise Crypto Industry Innovators ETF by 17.9% in the 4th quarter. Morgan Stanley now owns 3,910,750 shares of the company’s stock worth $77,941,000 after purchasing an additional 592,735 shares in the last quarter. LRI Investments LLC grew its holdings in shares of Bitwise Crypto Industry Innovators ETF by 510.5% during the third quarter. LRI Investments LLC now owns 127,602 shares of the company’s stock valued at $3,199,000 after buying an additional 106,702 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Bitwise Crypto Industry Innovators ETF during the fourth quarter valued at approximately $793,000. Fischer Investment Strategies LLC purchased a new position in Bitwise Crypto Industry Innovators ETF in the 4th quarter worth approximately $615,000. Finally, HighTower Advisors LLC bought a new position in Bitwise Crypto Industry Innovators ETF in the 4th quarter valued at approximately $368,000.

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.