Short Interest in Bitwise Web3 ETF (NYSEARCA:BWEB) Increases By 23.1%

Bitwise Web3 ETF (NYSEARCA:BWEB) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 314 shares, a growth of 23.1% from the November 30th total of 255 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 275 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily trading volume, of 275 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Bitwise Web3 ETF stock. Jane Street Group LLC raised its stake in shares of Bitwise Web3 ETF (NYSEARCA:BWEB) by 6.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,604 shares of the company’s stock after purchasing an additional 745 shares during the quarter. Jane Street Group LLC owned 18.13% of Bitwise Web3 ETF worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

Bitwise Web3 ETF Stock Performance

Shares of NYSEARCA:BWEB traded down $1.25 during midday trading on Wednesday, reaching $70.74. 260 shares of the company’s stock were exchanged, compared to its average volume of 728. The company’s 50 day simple moving average is $75.79 and its two-hundred day simple moving average is $74.79. The firm has a market capitalization of $5.66 million, a PE ratio of 31.67 and a beta of 2.30. Bitwise Web3 ETF has a 12 month low of $41.19 and a 12 month high of $88.75.

Bitwise Web3 ETF Company Profile

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.