Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Stock Price Up 15.8% – Here’s Why

Shares of Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) rose 15.8% during trading on Monday . The stock traded as high as $21.20 and last traded at $21.09. Approximately 462,465 shares traded hands during mid-day trading, an increase of 249% from the average daily volume of 132,441 shares. The stock had previously closed at $18.21.

Bitwise Crypto Industry Innovators ETF Stock Down 8.9 %

The company has a market capitalization of $202.88 million, a P/E ratio of 33.57 and a beta of 2.21. The stock has a fifty day simple moving average of $14.29 and a 200-day simple moving average of $13.36.

Institutional Trading of Bitwise Crypto Industry Innovators ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in BITQ. Main Management ETF Advisors LLC increased its position in Bitwise Crypto Industry Innovators ETF by 0.8% in the second 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 period. AdvisorNet Financial Inc increased its position in Bitwise Crypto Industry Innovators ETF by 31.9% in the second quarter. AdvisorNet Financial Inc now owns 33,228 shares of the company’s stock worth $448,000 after purchasing an additional 8,041 shares during the period. Janney Montgomery Scott LLC increased its position in Bitwise Crypto Industry Innovators ETF by 41.4% in the first quarter. Janney Montgomery Scott LLC now owns 23,210 shares of the company’s stock worth $305,000 after purchasing an additional 6,790 shares during the period. Rothschild Investment LLC acquired a new stake in Bitwise Crypto Industry Innovators ETF in the second quarter worth about $162,000. Finally, ORG Partners LLC acquired a new stake in Bitwise Crypto Industry Innovators ETF in the second quarter worth about $32,000.

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.