Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Sees Significant Drop in Short Interest

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) was the target of a significant 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. Approximately 10.5% of the shares of the stock are short sold. Based on an average trading volume of 372,583 shares, the days-to-cover ratio is presently 0.0 days.

Breakwave Tanker Shipping ETF Stock Performance

Shares of NYSEARCA:BWET traded up $76.92 during trading on Friday, reaching $726.92. The stock had a trading volume of 283,939 shares, compared to its average volume of 139,841. Breakwave Tanker Shipping ETF has a 1-year low of $13.58 and a 1-year high of $743.57. The stock has a market cap of $101.77 million, a PE ratio of 34.79 and a beta of 0.18. The business has a fifty day moving average price of $344.59 and a 200-day moving average price of $212.56.

Breakwave Tanker Shipping ETF Company Profile

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.