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

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ)’s share price shot up 0.4% on Friday . The stock traded as high as $28.68 and last traded at $28.61. 130,803 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 215,403 shares. The stock had previously closed at $28.51.

Bitwise Crypto Industry Innovators ETF Stock Performance

The stock has a market capitalization of $523.56 million, a P/E ratio of 27.61 and a beta of 3.09. The company’s fifty day simple moving average is $23.72 and its two-hundred day simple moving average is $22.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Fischer Investment Strategies LLC bought a new position in shares of Bitwise Crypto Industry Innovators ETF during the fourth quarter worth approximately $615,000. Dynamic Advisor Solutions LLC bought a new position in shares of Bitwise Crypto Industry Innovators ETF during the fourth quarter worth approximately $793,000. LRI Investments LLC increased its holdings in shares of Bitwise Crypto Industry Innovators ETF by 510.5% during the third quarter. LRI Investments LLC now owns 127,602 shares of the company’s stock worth $3,199,000 after purchasing an additional 106,702 shares during the period. Sigma Planning Corp bought a new position in shares of Bitwise Crypto Industry Innovators ETF during the fourth quarter worth approximately $202,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Bitwise Crypto Industry Innovators ETF by 3.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,570 shares of the company’s stock worth $1,167,000 after purchasing an additional 1,910 shares during the period.

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.