Short Interest in Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Rises By 75.8%

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 31,529 shares, a growth of 75.8% from the February 26th total of 17,938 shares. Based on an average trading volume of 153,956 shares, the days-to-cover ratio is presently 0.2 days. Currently, 21.0% of the company’s stock are sold short.

Breakwave Tanker Shipping ETF Stock Up 6.3%

Shares of BWET traded up $7.06 during midday trading on Friday, hitting $119.06. The company had a trading volume of 185,969 shares, compared to its average volume of 70,414. The company’s 50 day moving average price is $55.39 and its 200 day moving average price is $32.17. The stock has a market cap of $17.86 million, a price-to-earnings ratio of 34.79 and a beta of 0.70. Breakwave Tanker Shipping ETF has a 52 week low of $9.60 and a 52 week high of $124.00.

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.