Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Shares Climb 1.8% – Still a Buy?

Shares of Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) rose 1.8% during mid-day trading on Friday. The stock traded as high as $18.39 and last traded at $18.30. Approximately 263,181 shares were traded during mid-day trading, an increase of 60% from the average session volume of 164,399 shares. The stock had previously closed at $17.98.

Bitwise Crypto Industry Innovators ETF Price Performance

The firm has a market cap of $326.65 million, a PE ratio of 27.61 and a beta of 3.12. The stock’s fifty day moving average price is $23.85 and its 200-day moving average price is $23.38.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BITQ. Cetera Investment Advisers increased its position in shares of Bitwise Crypto Industry Innovators ETF by 6.0% during the first quarter. Cetera Investment Advisers now owns 398,453 shares of the company’s stock valued at $7,515,000 after acquiring an additional 22,557 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Bitwise Crypto Industry Innovators ETF by 15.0% during the 1st quarter. Royal Bank of Canada now owns 304,490 shares of the company’s stock worth $5,743,000 after purchasing an additional 39,811 shares during the period. Kintra Wealth LLC purchased a new position in shares of Bitwise Crypto Industry Innovators ETF during the 2nd quarter worth approximately $2,102,000. Gainplan LLC increased its holdings in Bitwise Crypto Industry Innovators ETF by 9.5% in the 3rd quarter. Gainplan LLC now owns 59,800 shares of the company’s stock valued at $1,517,000 after purchasing an additional 5,175 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its holdings in Bitwise Crypto Industry Innovators ETF by 5.3% in the 3rd quarter. Soltis Investment Advisors LLC now owns 53,755 shares of the company’s stock valued at $1,364,000 after purchasing an additional 2,691 shares during the last quarter.

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.