Short Interest in Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Rises By 49.2%

by · The Cerbat Gem

Breakwave Tanker Shipping ETF (NYSEARCA:BWET – Get Free Report) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 12,823 shares, a growth of 49.2% from the January 15th total of 8,595 shares. Currently, 8.5% of the shares of the stock are short sold. Based on an average trading volume of 23,734 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 23,734 shares, the days-to-cover ratio is currently 0.5 days. Currently, 8.5% of the shares of the stock are short sold.

Breakwave Tanker Shipping ETF Price Performance

BWET traded up $1.71 during trading hours on Monday, reaching $38.54. 12,180 shares of the stock traded hands, compared to its average volume of 24,753. The company has a market cap of $5.78 million, a price-to-earnings ratio of 34.79 and a beta of 0.70. Breakwave Tanker Shipping ETF has a fifty-two week low of $9.60 and a fifty-two week high of $40.76. The firm’s fifty day simple moving average is $28.07 and its two-hundred day simple moving average is $20.32.

Breakwave Tanker Shipping ETF Company Profile

(Get Free Report)

The Breakwave Tanker Shipping ETF (BWET) is an exchange-traded fund that is based on the Breakwave Wet Freight Futures index. The fund provides long-only exposure to the crude oil tanker shipping market by tracking an index of the near-dated wet freight futures contracts on related indexes. The portfolio has an average maturity of about 50-70 days. BWET was launched on May 3, 2023 and is managed by Breakwave.

Further Reading