Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Short Interest Up 730.4% in January

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 8,595 shares, an increase of 730.4% from the December 31st total of 1,035 shares. Based on an average daily volume of 20,374 shares, the days-to-cover ratio is presently 0.4 days. Currently, 8.6% of the company’s shares are sold short. Currently, 8.6% of the company’s shares are sold short. Based on an average daily volume of 20,374 shares, the days-to-cover ratio is presently 0.4 days.

Breakwave Tanker Shipping ETF Stock Down 0.1%

Shares of NYSEARCA BWET traded down $0.03 during trading on Wednesday, hitting $32.40. 16,839 shares of the company traded hands, compared to its average volume of 22,217. The firm has a market capitalization of $3.24 million, a P/E ratio of 34.79 and a beta of 0.70. The company has a 50-day moving average price of $24.71 and a 200-day moving average price of $18.08. Breakwave Tanker Shipping ETF has a 1 year low of $9.60 and a 1 year high of $34.44.

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.