Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Sees Significant Increase in Short Interest

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 430,721 shares, a growth of 80.9% from the December 31st total of 238,060 shares. Based on an average trading volume of 147,162 shares, the short-interest ratio is presently 2.9 days. Currently, 2.2% of the company’s shares are short sold. Currently, 2.2% of the company’s shares are short sold. Based on an average trading volume of 147,162 shares, the short-interest ratio is presently 2.9 days.

Institutional Trading of Bitwise Crypto Industry Innovators ETF

Several institutional investors and hedge funds have recently made changes to their positions in BITQ. Advisors Preferred LLC purchased a new position in Bitwise Crypto Industry Innovators ETF during the 3rd quarter worth $28,000. Sound Income Strategies LLC acquired a new stake in Bitwise Crypto Industry Innovators ETF during the 4th quarter valued at approximately $43,000. Advantage Trust Co purchased a new stake in Bitwise Crypto Industry Innovators ETF in the second quarter valued at $93,000. Farther Finance Advisors LLC boosted its stake in shares of Bitwise Crypto Industry Innovators ETF by 117.1% in the third quarter. Farther Finance Advisors LLC now owns 5,443 shares of the company’s stock worth $136,000 after buying an additional 2,936 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Bitwise Crypto Industry Innovators ETF by 19.5% during the third quarter. Sunbelt Securities Inc. now owns 8,197 shares of the company’s stock worth $205,000 after buying an additional 1,337 shares in the last quarter.

Bitwise Crypto Industry Innovators ETF Trading Down 5.1%

Shares of BITQ traded down $1.13 during trading hours on Friday, reaching $21.18. 195,456 shares of the company traded hands, compared to its average volume of 278,723. The firm has a market cap of $411.32 million, a price-to-earnings ratio of 27.61 and a beta of 3.17. Bitwise Crypto Industry Innovators ETF has a 12-month low of $10.50 and a 12-month high of $31.45. The stock’s fifty day moving average price is $22.25 and its 200 day moving average price is $23.00.

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.