Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Short Interest Update

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 14,699 shares, a drop of 62.6% from the August 15th total of 39,324 shares. Based on an average daily volume of 372,583 shares, the days-to-cover ratio is presently 0.0 days. Currently, 10.5% of the shares of the stock are sold short.

Breakwave Tanker Shipping ETF Stock Performance

NYSEARCA BWET traded up $32.58 during mid-day trading on Monday, reaching $759.50. 403,249 shares of the stock were exchanged, compared to its average volume of 141,336. The stock has a market capitalization of $106.33 million, a PE ratio of 34.79 and a beta of 0.18. The business’s fifty day simple moving average is $344.59 and its 200 day simple moving average is $213.70. Breakwave Tanker Shipping ETF has a 1-year low of $13.58 and a 1-year high of $804.56.

About Breakwave Tanker Shipping ETF

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.