ProShares Bitcoin & Ether Market Cap Weight ETF (NYSEARCA:BETH) Sees Significant Decline in Short Interest
by Renee Jackson · The Cerbat GemProShares Bitcoin & Ether Market Cap Weight ETF (NYSEARCA:BETH – Get Free Report) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,725 shares, a drop of 80.5% from the February 26th total of 8,855 shares. Based on an average trading volume of 5,701 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the shares of the company are short sold.
ProShares Bitcoin & Ether Market Cap Weight ETF Trading Down 3.5%
Shares of BETH stock traded down $1.42 during midday trading on Thursday, hitting $38.73. The company had a trading volume of 1,503 shares, compared to its average volume of 5,797. The company’s 50 day simple moving average is $42.14 and its 200 day simple moving average is $58.14. ProShares Bitcoin & Ether Market Cap Weight ETF has a 52-week low of $35.55 and a 52-week high of $92.84.
ProShares Bitcoin & Ether Market Cap Weight ETF Increases Dividend
The company also recently disclosed a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were given a $0.0541 dividend. This is a positive change from ProShares Bitcoin & Ether Market Cap Weight ETF’s previous monthly dividend of $0.03. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 1.7%.
Hedge Funds Weigh In On ProShares Bitcoin & Ether Market Cap Weight ETF
A number of large investors have recently bought and sold shares of the company. Flow Traders U.S. LLC acquired a new stake in shares of ProShares Bitcoin & Ether Market Cap Weight ETF in the 2nd quarter worth $500,000. Orion Porfolio Solutions LLC increased its stake in shares of ProShares Bitcoin & Ether Market Cap Weight ETF by 55.5% during the fourth quarter. Orion Porfolio Solutions LLC now owns 11,043 shares of the company’s stock worth $564,000 after acquiring an additional 3,940 shares during the period. Osaic Holdings Inc. purchased a new position in ProShares Bitcoin & Ether Market Cap Weight ETF during the second quarter worth about $59,000. Finally, Hoey Investments Inc. raised its holdings in ProShares Bitcoin & Ether Market Cap Weight ETF by 66.7% during the fourth quarter. Hoey Investments Inc. now owns 500 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter.
ProShares Bitcoin & Ether Market Cap Weight ETF Company Profile
The ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) is an exchange-traded fund that mostly invests in long cryptocurrency basket, short usd currency. The fund actively manages a market cap-weighted portfolio of front-month CME Bitcoin and Ether futures contracts. It does not invest directly in bitcoin or ether. BETH was launched on Oct 2, 2023 and is issued by ProShares.