ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Trading Up 6% – Here’s What Happened

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) rose 6% during mid-day trading on Monday . The company traded as high as $29.03 and last traded at $28.76. Approximately 11,337 shares were traded during trading, an increase of 111% from the average daily volume of 5,385 shares. The stock had previously closed at $27.14.

ProShares Bitcoin & Ether Equal Weight ETF Stock Performance

The business has a 50 day moving average of $35.37 and a 200-day moving average of $40.11.

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

Several hedge funds have recently made changes to their positions in BETE. Jane Street Group LLC bought a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the 2nd quarter worth approximately $295,000. Flow Traders U.S. LLC bought a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the 3rd quarter worth approximately $328,000. Finally, Mariner LLC bought a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the 3rd quarter worth 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.