Short Interest in Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Expands By 71.7%

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 116,862 shares, a growth of 71.7% from the May 31st total of 68,051 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 123,275 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Bitwise Crypto Industry Innovators ETF

Large investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its holdings in shares of Bitwise Crypto Industry Innovators ETF by 88.3% in the 1st 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 last quarter. Sound Income Strategies LLC purchased a new stake in Bitwise Crypto Industry Innovators ETF during the fourth quarter worth about $43,000. Sankala Group LLC purchased a new stake in Bitwise Crypto Industry Innovators ETF during the fourth quarter worth about $60,000. PNC Financial Services Group Inc. increased its holdings in Bitwise Crypto Industry Innovators ETF by 53.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,442 shares of the company’s stock worth $69,000 after buying an additional 1,202 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Bitwise Crypto Industry Innovators ETF in the fourth quarter worth about $70,000.

Bitwise Crypto Industry Innovators ETF Stock Performance

BITQ stock opened at $23.79 on Friday. The stock’s fifty day simple moving average is $26.32 and its two-hundred day simple moving average is $22.86. Bitwise Crypto Industry Innovators ETF has a 1-year low of $16.65 and a 1-year high of $31.45. The stock has a market cap of $398.48 million, a P/E ratio of 27.61 and a beta of 3.13.

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.