Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) Hits New 52-Week High – Time to Buy?

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.45 and last traded at $30.43, with a volume of 227608 shares trading hands. The stock had previously closed at $29.94.

Bitwise Crypto Industry Innovators ETF Price Performance

The company has a market capitalization of $545.31 million, a price-to-earnings ratio of 27.61 and a beta of 2.72. The stock has a 50-day moving average price of $22.99 and a 200-day moving average price of $19.02.

Hedge Funds Weigh In On Bitwise Crypto Industry Innovators ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in Bitwise Crypto Industry Innovators ETF by 117.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,443 shares of the company’s stock valued at $136,000 after acquiring an additional 2,936 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Bitwise Crypto Industry Innovators ETF by 8.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 111,870 shares of the company’s stock valued at $2,206,000 after acquiring an additional 8,991 shares in the last quarter. Advantage Trust Co bought a new position in shares of Bitwise Crypto Industry Innovators ETF in the 2nd quarter valued at $93,000. LRI Investments LLC bought a new position in shares of Bitwise Crypto Industry Innovators ETF in the 2nd quarter valued at $412,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Bitwise Crypto Industry Innovators ETF by 6.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 109,665 shares of the company’s stock valued at $2,163,000 after purchasing an additional 6,356 shares during the last quarter.

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.