Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Short Interest Down 46.5% in April
by Scott Moore · The Cerbat GemBreakwave Tanker Shipping ETF (NYSEARCA:BWET – Get Free Report) was the recipient of 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. Based on an average daily volume of 68,527 shares, the days-to-cover ratio is presently 0.7 days. Currently, 23.5% of the company’s stock are short sold.
Breakwave Tanker Shipping ETF Stock Performance
Shares of Breakwave Tanker Shipping ETF stock traded up $1.21 during midday trading on Friday, hitting $180.23. The company had a trading volume of 65,938 shares, compared to its average volume of 86,888. Breakwave Tanker Shipping ETF has a 52-week low of $9.60 and a 52-week high of $216.50. The stock has a market capitalization of $37.85 million, a P/E ratio of 34.79 and a beta of 0.36. The company has a 50 day moving average of $126.93 and a 200 day moving average of $63.50.
About Breakwave Tanker Shipping ETF
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.