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

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

ProShares Bitcoin & Ether Equal Weight ETF Stock Performance

The stock has a 50-day moving average price of $52.50 and a 200-day moving average price of $69.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the 2nd quarter valued at $295,000. Flow Traders U.S. LLC acquired a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the third quarter valued at approximately $328,000. Finally, Mariner LLC bought a new stake in shares of ProShares Bitcoin & Ether Equal Weight ETF during the third quarter valued at approximately $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.