Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ – Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 298,779 shares, an increase of 64.4% from the September 15th total of 181,766 shares. Based on an average daily volume of 96,055 shares, the short-interest ratio is currently 3.1 days. Approximately 1.7% of the shares of the stock are short sold.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of BITQ. Royal Bank of Canada raised its stake in Bitwise Crypto Industry Innovators ETF by 15.0% during the first 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 acquired a new stake in shares of Bitwise Crypto Industry Innovators ETF during the 2nd quarter worth $2,102,000. Rockefeller Capital Management L.P. raised its position in shares of Bitwise Crypto Industry Innovators ETF by 495.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 91,058 shares of the company’s stock worth $1,815,000 after buying an additional 75,767 shares during the period. Cetera Investment Advisers raised its position in shares of Bitwise Crypto Industry Innovators ETF by 6.0% in the 1st quarter. Cetera Investment Advisers now owns 398,453 shares of the company’s stock worth $7,515,000 after buying an additional 22,557 shares during the period. Finally, RFG Advisory LLC purchased a new position in shares of Bitwise Crypto Industry Innovators ETF in the 1st quarter worth $358,000.
Bitwise Crypto Industry Innovators ETF Price Performance
Bitwise Crypto Industry Innovators ETF stock traded down $1.56 during mid-day trading on Friday, hitting $21.39. 155,659 shares of the company were exchanged, compared to its average volume of 165,812. The company has a market capitalization of $376.89 million, a P/E ratio of 27.61 and a beta of 3.14. Bitwise Crypto Industry Innovators ETF has a 12-month low of $16.65 and a 12-month high of $30.34. The business’s 50 day simple moving average is $24.96 and its two-hundred day simple moving average is $24.73.
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.
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