ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Stock Price Down 0.9% – Should You Sell?

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) shares traded down 0.9% during mid-day trading on Friday . The company traded as low as $47.12 and last traded at $47.33. 4,094 shares were traded during trading, a decline of 30% from the average session volume of 5,821 shares. The stock had previously closed at $47.78.

ProShares Bitcoin & Ether Equal Weight ETF Trading Down 0.9%

The company has a fifty day moving average price of $52.50 and a 200 day moving average price of $69.91.

Hedge Funds Weigh In On ProShares Bitcoin & Ether Equal Weight ETF

A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the second quarter worth $295,000. Flow Traders U.S. LLC bought a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the third quarter valued at about $328,000. Finally, Mariner LLC purchased a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF in the third quarter worth about $282,000.

About ProShares Bitcoin & Ether Equal Weight ETF

The ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) is an exchange-traded fund that mostly invests in long cryptocurrency basket, short usd currency. The fund actively manages an equally weighted portfolio of front-month CME Bitcoin and Ether futures contracts. It does not invest directly in bitcoin or ether. BETE was launched on Oct 2, 2023 and is issued by ProShares.