Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Shares Down 2.7% – Here’s What Happened

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ)’s stock price dropped 2.7% on Monday. The company traded as low as $26.27 and last traded at $26.27. Approximately 36,695 shares were traded during trading, a decline of 78% from the average daily volume of 165,590 shares. The stock had previously closed at $27.00.

Bitwise Crypto Industry Innovators ETF Trading Down 0.9%

The company’s 50 day moving average price is $24.75 and its 200-day moving average price is $24.44. The company has a market capitalization of $447.00 million, a PE ratio of 27.61 and a beta of 3.14.

Institutional Investors Weigh In On Bitwise Crypto Industry Innovators ETF

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in shares of Bitwise Crypto Industry Innovators ETF by 20.1% in the second quarter. NewEdge Advisors LLC now owns 16,110 shares of the company’s stock worth $395,000 after acquiring an additional 2,700 shares in the last quarter. Kintra Wealth LLC acquired a new position in shares of Bitwise Crypto Industry Innovators ETF during the 2nd quarter valued at $2,102,000. HB Wealth Management LLC purchased a new stake in Bitwise Crypto Industry Innovators ETF during the 2nd quarter worth $208,000. Gainplan LLC increased its holdings in Bitwise Crypto Industry Innovators ETF by 21.6% in the 2nd quarter. Gainplan LLC now owns 54,625 shares of the company’s stock valued at $1,338,000 after purchasing an additional 9,715 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in Bitwise Crypto Industry Innovators ETF in the 2nd quarter valued at $323,000.

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.