ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Shares Down 1.9% – Should You Sell?

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) shares traded down 1.9% during trading on Thursday . The stock traded as low as $30.39 and last traded at $30.48. Approximately 1,811 shares were traded during trading, a decline of 63% from the average session volume of 4,896 shares. The stock had previously closed at $31.07.

ProShares Bitcoin & Ether Equal Weight ETF Trading Down 1.9%

The stock has a 50-day simple moving average of $31.30 and a two-hundred day simple moving average of $35.75.

Institutional Trading of ProShares Bitcoin & Ether Equal Weight ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the second quarter worth about $295,000. Flow Traders U.S. LLC bought a new position in ProShares Bitcoin & Ether Equal Weight ETF during the 3rd quarter worth about $328,000. Finally, Mariner LLC purchased a new position in ProShares Bitcoin & Ether Equal Weight ETF during the 3rd quarter valued at 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.