ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Short Interest Up 89.4% in April

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 303 shares, an increase of 89.4% from the April 15th total of 160 shares. Based on an average daily trading volume, of 4,123 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s shares are sold short.

ProShares Bitcoin & Ether Equal Weight ETF Stock Performance

Shares of BETE stock traded down $1.21 during mid-day trading on Friday, reaching $37.01. The company’s stock had a trading volume of 2,970 shares, compared to its average volume of 5,735. The company’s 50 day simple moving average is $35.79 and its 200-day simple moving average is $43.76. ProShares Bitcoin & Ether Equal Weight ETF has a 12-month low of $30.40 and a 12-month high of $94.32.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flow Traders U.S. LLC acquired a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the 3rd quarter valued at $328,000. Jane Street Group LLC purchased a new stake in shares of ProShares Bitcoin & Ether Equal Weight ETF in the second quarter worth about $295,000. Finally, Mariner LLC purchased a new stake in shares of ProShares Bitcoin & Ether Equal Weight ETF in the third quarter worth about $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.