ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Short Interest Down 98.9% in May

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 4 shares, a drop of 98.9% from the May 14th total of 374 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,885 shares, the days-to-cover ratio is presently 0.0 days.

ProShares Bitcoin & Ether Equal Weight ETF Stock Performance

BETE stock traded up $0.80 during trading on Thursday, hitting $28.79. 2,987 shares of the company’s stock traded hands, compared to its average volume of 5,365. The business has a fifty day simple moving average of $35.20 and a two-hundred day simple moving average of $39.76. ProShares Bitcoin & Ether Equal Weight ETF has a 1 year low of $26.75 and a 1 year high of $94.32.

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

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

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.