ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Shares Down 5.2% – What’s Next?

Shares of ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) traded down 5.2% during trading on Wednesday . The stock traded as low as $35.10 and last traded at $35.10. 3,254 shares were traded during mid-day trading, a decline of 57% from the average session volume of 7,555 shares. The stock had previously closed at $37.04.

ProShares Bitcoin & Ether Equal Weight ETF Trading Down 5.2%

The firm’s fifty day moving average is $38.34 and its two-hundred day moving average is $55.78.

ProShares Bitcoin & Ether Equal Weight ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were paid a $0.046 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, March 2nd. This is a boost from ProShares Bitcoin & Ether Equal Weight ETF’s previous monthly dividend of $0.01.

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

Several institutional investors have recently modified their holdings of BETE. Jane Street Group LLC bought a new stake in ProShares Bitcoin & Ether Equal Weight ETF during the second quarter worth $295,000. Flow Traders U.S. LLC purchased a new position in ProShares Bitcoin & Ether Equal Weight ETF in the third quarter worth $328,000. Finally, Mariner LLC bought a new position in ProShares Bitcoin & Ether Equal Weight ETF in the 3rd quarter valued at $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.