Investors Buy Large Volume of Call Options on Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ)

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) saw unusually large options trading on Friday. Stock traders purchased 6,618 call options on the stock. This is an increase of 19,365% compared to the average volume of 34 call options.

Hedge Funds Weigh In On Bitwise Crypto Industry Innovators ETF

Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp raised its position 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 valued at $37,000 after buying an additional 922 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Bitwise Crypto Industry Innovators ETF during the 4th quarter worth approximately $43,000. Sankala Group LLC bought a new position in Bitwise Crypto Industry Innovators ETF in the fourth quarter valued at approximately $60,000. PNC Financial Services Group Inc. increased its stake in Bitwise Crypto Industry Innovators ETF by 53.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,442 shares of the company’s stock valued at $69,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Bitwise Crypto Industry Innovators ETF during the fourth quarter valued at approximately $70,000.

Bitwise Crypto Industry Innovators ETF Price Performance

BITQ stock traded down $0.22 during midday trading on Friday, reaching $23.93. The company had a trading volume of 208,864 shares, compared to its average volume of 193,924. The company has a market capitalization of $398.91 million, a price-to-earnings ratio of 27.61 and a beta of 3.13. The stock has a 50 day moving average price of $26.34 and a 200-day moving average price of $22.99. Bitwise Crypto Industry Innovators ETF has a 1-year low of $16.65 and a 1-year high of $31.45.

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.