Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Sees Large Growth in Short Interest

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) saw a large growth in short interest in June. As of June 15th, there was short interest totaling 116,862 shares, a growth of 71.7% from the May 31st total of 68,051 shares. Based on an average daily trading volume, of 123,275 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Money Concepts Capital Corp grew its position in Bitwise Crypto Industry Innovators ETF by 2.5% in the 4th quarter. Money Concepts Capital Corp now owns 26,347 shares of the company’s stock worth $525,000 after purchasing an additional 639 shares during the period. Prospera Financial Services Inc lifted its holdings in shares of Bitwise Crypto Industry Innovators ETF by 6.8% during the 4th quarter. Prospera Financial Services Inc now owns 10,555 shares of the company’s stock valued at $210,000 after buying an additional 675 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Bitwise Crypto Industry Innovators ETF by 88.3% during the 1st quarter. Fifth Third Bancorp now owns 1,966 shares of the company’s stock valued at $37,000 after buying an additional 922 shares during the period. Essex Financial Services Inc. lifted its holdings in Bitwise Crypto Industry Innovators ETF by 4.9% in the fourth quarter. Essex Financial Services Inc. now owns 23,763 shares of the company’s stock valued at $474,000 after acquiring an additional 1,109 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Bitwise Crypto Industry Innovators ETF by 53.7% during 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 during the period.

Bitwise Crypto Industry Innovators ETF Stock Performance

Shares of NYSEARCA:BITQ opened at $23.79 on Friday. Bitwise Crypto Industry Innovators ETF has a fifty-two week low of $16.65 and a fifty-two week high of $31.45. The business has a 50-day simple moving average of $26.34 and a two-hundred day simple moving average of $22.85. The firm has a market cap of $398.48 million, a price-to-earnings ratio of 27.61 and a beta of 3.13.

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.