Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Stock Price Down 4.7% – Time to Sell?

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ)’s share price fell 4.7% during trading on Monday . The company traded as low as $16.76 and last traded at $17.18. 273,276 shares traded hands during trading, an increase of 79% from the average session volume of 152,736 shares. The stock had previously closed at $18.03.

Bitwise Crypto Industry Innovators ETF Stock Performance

The firm has a 50-day simple moving average of $18.83 and a two-hundred day simple moving average of $15.21. The company has a market capitalization of $182.97 million, a price-to-earnings ratio of 33.57 and a beta of 2.21.

Hedge Funds Weigh In On Bitwise Crypto Industry Innovators ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new stake in Bitwise Crypto Industry Innovators ETF in the second quarter valued at approximately $162,000. JPMorgan Chase & Co. raised its holdings in shares of Bitwise Crypto Industry Innovators ETF by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 112,026 shares of the company’s stock valued at $1,493,000 after purchasing an additional 7,088 shares in the last quarter. Finally, Main Management ETF Advisors LLC lifted its position in shares of Bitwise Crypto Industry Innovators ETF by 0.8% during the 2nd quarter. Main Management ETF Advisors LLC now owns 921,930 shares of the company’s stock worth $12,428,000 after purchasing an additional 7,110 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.