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

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 17,938 shares, an increase of 141.6% from the February 12th total of 7,425 shares. Based on an average trading volume of 77,311 shares, the short-interest ratio is presently 0.2 days. Currently, 12.0% of the shares of the company are sold short. Currently, 12.0% of the shares of the company are sold short. Based on an average trading volume of 77,311 shares, the short-interest ratio is presently 0.2 days.

Breakwave Tanker Shipping ETF Stock Down 5.2%

Shares of NYSEARCA:BWET traded down $3.29 during midday trading on Friday, reaching $59.56. The company’s stock had a trading volume of 125,545 shares, compared to its average volume of 60,734. The firm has a market capitalization of $8.93 million, a PE ratio of 34.79 and a beta of 0.70. Breakwave Tanker Shipping ETF has a twelve month low of $9.60 and a twelve month high of $75.50. The stock has a fifty day moving average of $41.38 and a 200 day moving average of $26.21.

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.