Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Sees Large Decline in Short Interest

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) saw a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 7,425 shares, a decline of 42.1% from the January 29th total of 12,823 shares. Approximately 5.0% of the company’s shares are sold short. Based on an average trading volume of 30,304 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 30,304 shares, the short-interest ratio is currently 0.2 days. Approximately 5.0% of the company’s shares are sold short.

Breakwave Tanker Shipping ETF Stock Down 2.3%

Shares of BWET stock traded down $1.33 during mid-day trading on Friday, hitting $57.30. 54,321 shares of the company’s stock were exchanged, compared to its average volume of 36,863. The stock has a market cap of $8.60 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 $60.10. The stock has a 50-day simple moving average of $33.25 and a two-hundred day simple moving average of $22.88.

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.