Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Sees Significant Drop in Short Interest

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 34,498 shares, a decline of 49.8% from the September 15th total of 68,719 shares. Approximately 14.4% of the shares of the company are sold short. Based on an average daily volume of 192,167 shares, the short-interest ratio is presently 0.2 days.

Breakwave Tanker Shipping ETF Stock Down 0.7%

BWET traded down $7.18 during trading on Wednesday, hitting $991.82. 40,455 shares of the company traded hands, compared to its average volume of 142,536. Breakwave Tanker Shipping ETF has a one year low of $15.41 and a one year high of $1,051.94. The stock’s fifty day moving average is $609.36 and its 200 day moving average is $331.72. The firm has a market cap of $297.54 million, a P/E ratio of 34.79 and a beta of -0.13.

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.