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

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 12,823 shares, an increase of 49.2% from the January 15th total of 8,595 shares. Based on an average daily volume of 23,734 shares, the days-to-cover ratio is presently 0.5 days. Approximately 8.5% of the company’s shares are sold short. Approximately 8.5% of the company’s shares are sold short. Based on an average daily volume of 23,734 shares, the days-to-cover ratio is presently 0.5 days.

Breakwave Tanker Shipping ETF Trading Up 4.6%

BWET stock traded up $1.71 during midday trading on Friday, hitting $38.54. The stock had a trading volume of 12,180 shares, compared to its average volume of 24,753. The firm has a market cap of $5.78 million, a P/E ratio of 34.79 and a beta of 0.70. The business has a fifty day moving average price of $28.07 and a two-hundred day moving average price of $20.19. Breakwave Tanker Shipping ETF has a 1-year low of $9.60 and a 1-year high of $40.76.

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.