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

Breakwave Tanker Shipping ETF (NYSEARCA:BWET – Get Free Report) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 68,719 shares, a growth of 367.5% from the August 31st total of 14,699 shares. Based on an average daily trading volume, of 229,871 shares, the short-interest ratio is presently 0.3 days. Currently, 16.8% of the shares of the company are sold short.

Breakwave Tanker Shipping ETF Price Performance

BWET stock traded up $17.43 during midday trading on Friday, hitting $701.72. 59,821 shares of the stock traded hands, compared to its average volume of 145,513. Breakwave Tanker Shipping ETF has a 1-year low of $13.58 and a 1-year high of $872.14. The stock’s fifty day simple moving average is $444.47 and its 200-day simple moving average is $258.25. The firm has a market cap of $287.71 million, a P/E ratio of 34.79 and a beta of 0.18.

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Breakwave Tanker Shipping ETF Company Profile

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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.

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