Short Interest in ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Grows By 1,048.6%
by Tristan Rich · The Markets DailyProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE – Get Free Report) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 850 shares, an increase of 1,048.6% from the July 30th total of 74 shares. Based on an average trading volume of 1,366 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the shares of the company are short sold.
ProShares Bitcoin & Ether Equal Weight ETF Trading Down 0.1%
NYSEARCA:BETE traded down $0.03 during mid-day trading on Tuesday, hitting $38.65. The stock had a trading volume of 3,082 shares, compared to its average volume of 4,437. The company has a 50 day simple moving average of $30.42 and a 200-day simple moving average of $32.90. ProShares Bitcoin & Ether Equal Weight ETF has a 52 week low of $26.53 and a 52 week high of $89.40.
Institutional Investors Weigh In On ProShares Bitcoin & Ether Equal Weight ETF
A number of hedge funds have recently made changes to their positions in BETE. Mariner LLC acquired a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the third quarter worth approximately $282,000. Flow Traders U.S. LLC bought a new position in ProShares Bitcoin & Ether Equal Weight ETF in the 3rd quarter worth approximately $328,000. Finally, Jane Street Group LLC acquired a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the 2nd quarter valued at approximately $295,000.
ProShares Bitcoin & Ether Equal Weight ETF Company Profile
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.