Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Stock Price Up 0.4% – Still a Buy?

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) shares rose 0.4% during trading on Friday . The stock traded as high as $28.68 and last traded at $28.61. Approximately 130,803 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 215,403 shares. The stock had previously closed at $28.51.

Bitwise Crypto Industry Innovators ETF Stock Performance

The firm has a market capitalization of $523.56 million, a P/E ratio of 27.61 and a beta of 3.09. The firm’s 50-day moving average is $23.72 and its 200 day moving average is $22.20.

Institutional Investors Weigh In On Bitwise Crypto Industry Innovators ETF

Several institutional investors have recently added to or reduced their stakes in BITQ. Morgan Stanley lifted its position in Bitwise Crypto Industry Innovators ETF by 17.9% in the 4th quarter. Morgan Stanley now owns 3,910,750 shares of the company’s stock valued at $77,941,000 after acquiring an additional 592,735 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Bitwise Crypto Industry Innovators ETF by 510.5% during the 3rd quarter. LRI Investments LLC now owns 127,602 shares of the company’s stock worth $3,199,000 after buying an additional 106,702 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Bitwise Crypto Industry Innovators ETF by 495.5% during 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 last quarter. Royal Bank of Canada boosted its stake 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 buying an additional 39,811 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Bitwise Crypto Industry Innovators ETF during the 4th quarter worth about $793,000.

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.