Bitwise Crypto Industry Innovators ETF Target of Unusually Large Options Trading (NYSEARCA:BITQ)

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) was the recipient of unusually large options trading activity on Friday. Traders bought 6,618 call options on the stock. This is an increase of 19,365% compared to the average volume of 34 call options.

Bitwise Crypto Industry Innovators ETF Stock Performance

BITQ stock traded down $0.06 during trading on Friday, hitting $24.09. 194,024 shares of the company traded hands, compared to its average volume of 193,809. The firm has a market capitalization of $401.58 million, a PE ratio of 27.61 and a beta of 3.13. Bitwise Crypto Industry Innovators ETF has a 1 year low of $16.65 and a 1 year high of $31.45. The company has a 50-day moving average of $26.32 and a 200-day moving average of $22.98.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BITQ. JPMorgan Chase & Co. increased its holdings in shares of Bitwise Crypto Industry Innovators ETF by 8.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 111,870 shares of the company’s stock worth $2,206,000 after purchasing an additional 8,991 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Bitwise Crypto Industry Innovators ETF by 19.5% during the third quarter. Sunbelt Securities Inc. now owns 8,197 shares of the company’s stock valued at $205,000 after buying an additional 1,337 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Bitwise Crypto Industry Innovators ETF by 3.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 58,570 shares of the company’s stock worth $1,167,000 after buying an additional 1,910 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Bitwise Crypto Industry Innovators ETF in the 4th quarter worth about $793,000. Finally, Founders Capital Management raised its position in Bitwise Crypto Industry Innovators ETF by 4.5% in the 4th quarter. Founders Capital Management now owns 92,160 shares of the company’s stock worth $1,837,000 after buying an additional 3,953 shares during 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.