Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Stock Price Down 1.1% – Here’s Why

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) shares fell 1.1% on Monday . The company traded as low as $27.50 and last traded at $27.55. Approximately 58,816 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 201,788 shares. The stock had previously closed at $27.87.

Bitwise Crypto Industry Innovators ETF Stock Performance

The stock’s 50 day moving average price is $26.19 and its 200-day moving average price is $22.78. The company has a market cap of $466.65 million, a PE ratio of 27.61 and a beta of 3.11.

Institutional Trading of Bitwise Crypto Industry Innovators ETF

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in shares of Bitwise Crypto Industry Innovators ETF by 88.3% in the first quarter. Fifth Third Bancorp now owns 1,966 shares of the company’s stock worth $37,000 after buying an additional 922 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Bitwise Crypto Industry Innovators ETF in the 4th quarter valued at about $43,000. Sankala Group LLC purchased a new stake in Bitwise Crypto Industry Innovators ETF during the 4th quarter valued at about $60,000. PNC Financial Services Group Inc. grew its position in Bitwise Crypto Industry Innovators ETF by 53.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,442 shares of the company’s stock worth $69,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Bitwise Crypto Industry Innovators ETF during the 4th quarter worth approximately $70,000.

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.