Bitwise Crypto Industry Innovators ETF Target of Unusually Large Options Trading (NYSEARCA:BITQ)

Bitwise Crypto Industry Innovators ETF (NYSEARCA:BITQ) was the target of some unusual options trading on Friday. Stock traders bought 6,618 call options on the company. This represents an increase of approximately 19,365% compared to the average volume of 34 call options.

Institutional Trading of Bitwise Crypto Industry Innovators ETF

A number of large investors have recently bought and sold shares of BITQ. Morgan Stanley grew its holdings in shares of Bitwise Crypto Industry Innovators ETF by 17.9% during the fourth quarter. Morgan Stanley now owns 3,910,750 shares of the company’s stock worth $77,941,000 after buying an additional 592,735 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Bitwise Crypto Industry Innovators ETF by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 398,453 shares of the company’s stock worth $7,515,000 after acquiring an additional 22,557 shares in the last quarter. Royal Bank of Canada boosted its position in Bitwise Crypto Industry Innovators ETF by 15.0% during the first quarter. Royal Bank of Canada now owns 304,490 shares of the company’s stock worth $5,743,000 after purchasing an additional 39,811 shares in the last quarter. Salus Financial Advisors LLC grew its stake in Bitwise Crypto Industry Innovators ETF by 5.6% in the 1st quarter. Salus Financial Advisors LLC now owns 144,004 shares of the company’s stock valued at $2,716,000 after acquiring an additional 7,583 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Bitwise Crypto Industry Innovators ETF by 3.6% in the first quarter. Janney Montgomery Scott LLC now owns 135,610 shares of the company’s stock valued at $2,558,000 after purchasing an additional 4,724 shares during the last quarter.

Bitwise Crypto Industry Innovators ETF Stock Performance

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

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.