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

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 298,779 shares, an increase of 64.4% from the September 15th total of 181,766 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 96,055 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in Bitwise Crypto Industry Innovators ETF by 15.0% during the 1st quarter. Royal Bank of Canada now owns 304,490 shares of the company’s stock worth $5,743,000 after acquiring an additional 39,811 shares during the period. Kintra Wealth LLC acquired a new position in Bitwise Crypto Industry Innovators ETF in the 2nd quarter valued at $2,102,000. Rockefeller Capital Management L.P. raised its holdings in Bitwise Crypto Industry Innovators ETF by 495.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 91,058 shares of the company’s stock valued at $1,815,000 after acquiring an additional 75,767 shares in the last quarter. Cetera Investment Advisers raised its holdings in Bitwise Crypto Industry Innovators ETF by 6.0% in the 1st quarter. Cetera Investment Advisers now owns 398,453 shares of the company’s stock valued at $7,515,000 after acquiring an additional 22,557 shares in the last quarter. Finally, RFG Advisory LLC bought a new stake in shares of Bitwise Crypto Industry Innovators ETF during the 1st quarter valued at $358,000.

Bitwise Crypto Industry Innovators ETF Price Performance

NYSEARCA:BITQ opened at $22.95 on Friday. The firm’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $24.75. The company has a market cap of $404.38 million, a P/E ratio of 27.61 and a beta of 3.14. Bitwise Crypto Industry Innovators ETF has a one year low of $16.65 and a one year high of $30.64.

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.