Bitwise Web3 ETF (NYSEARCA:BWEB – Get Free Report) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 45 shares, a decline of 39.2% from the April 30th total of 74 shares. Based on an average daily volume of 863 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short.
Institutional Investors Weigh In On Bitwise Web3 ETF
Several hedge funds have recently modified their holdings of BWEB. Ankerstar Wealth LLC acquired a new stake in shares of Bitwise Web3 ETF during the 4th quarter valued at about $76,000. Jane Street Group LLC raised its holdings in Bitwise Web3 ETF by 25.7% in the 4th quarter. Jane Street Group LLC now owns 5,692 shares of the company’s stock worth $403,000 after purchasing an additional 1,163 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Bitwise Web3 ETF in the fourth quarter valued at approximately $788,000.
Bitwise Web3 ETF Price Performance
NYSEARCA BWEB remained flat at $76.83 during mid-day trading on Wednesday. 39 shares of the company were exchanged, compared to its average volume of 543. The stock has a market cap of $6.15 million, a P/E ratio of 31.67 and a beta of 2.11. The business has a 50-day simple moving average of $71.60 and a 200 day simple moving average of $70.97. Bitwise Web3 ETF has a 12-month low of $58.52 and a 12-month high of $88.75.
About Bitwise Web3 ETF
The Bitwise Web3 ETF (BWEB) is an exchange-traded fund that is based on the Bitwise Web3 Equities index. The fund tracks a tier-weighted index of companies connected to the global Web 3.0 industry. The selection process is overseen by a committee. BWEB was launched on Oct 4, 2022 and is managed by Bitwise.
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