ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Trading Down 5.2% – Here’s Why

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) shares traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $35.10 and last traded at $35.10. 3,254 shares changed hands during 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 Stock Performance

The firm has a 50 day moving average price of $37.82 and a 200 day moving average price of $55.28.

ProShares Bitcoin & Ether Equal Weight ETF Increases Dividend

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

Institutional Investors Weigh In On ProShares Bitcoin & Ether Equal Weight ETF

Hedge funds have recently modified their holdings of the business. Mariner LLC bought a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the third quarter valued at approximately $282,000. Jane Street Group LLC bought a new position in ProShares Bitcoin & Ether Equal Weight ETF in the second quarter worth approximately $295,000. Finally, Flow Traders U.S. LLC purchased a new stake in ProShares Bitcoin & Ether Equal Weight ETF during the third quarter worth $328,000.

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.