Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Short Interest Down 46.5% in April

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 49,425 shares, a decline of 46.5% from the April 15th total of 92,318 shares. Approximately 23.5% of the company’s stock are sold short. Based on an average daily volume of 68,527 shares, the short-interest ratio is presently 0.7 days.

Breakwave Tanker Shipping ETF Trading Up 0.7%

NYSEARCA:BWET traded up $1.21 on Friday, reaching $180.23. 65,938 shares of the stock traded hands, compared to its average volume of 86,888. The company has a market capitalization of $37.85 million, a price-to-earnings ratio of 34.79 and a beta of 0.36. Breakwave Tanker Shipping ETF has a 12 month low of $9.60 and a 12 month high of $216.50. The company’s fifty day simple moving average is $126.93 and its 200 day simple moving average is $63.50.

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.