Breakwave Tanker Shipping ETF (NYSEARCA:BWET) Trading 9.3% Higher – Still a Buy?

Shares of Breakwave Tanker Shipping ETF (NYSEARCA:BWET) were up 9.3% during mid-day trading on Thursday . The company traded as high as $502.41 and last traded at $496.41. Approximately 138,904 shares traded hands during trading, an increase of 1% from the average session volume of 138,025 shares. The stock had previously closed at $454.00.

Breakwave Tanker Shipping ETF Stock Up 9.3%

The stock has a market cap of $69.50 million, a PE ratio of 34.79 and a beta of 0.17. The firm has a 50-day simple moving average of $292.58 and a 200-day simple moving average of $190.81.

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.