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

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) was the recipient of a large 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. Approximately 16.8% of the company’s stock are short sold. Based on an average trading volume of 229,871 shares, the short-interest ratio is currently 0.3 days.

Breakwave Tanker Shipping ETF Stock Down 3.9%

Shares of BWET traded down $26.65 during mid-day trading on Friday, reaching $657.64. 163,260 shares of the stock traded hands, compared to its average volume of 146,118. The stock has a fifty day simple moving average of $453.07 and a 200 day simple moving average of $261.04. Breakwave Tanker Shipping ETF has a 12-month low of $13.58 and a 12-month high of $872.14. The firm has a market cap of $203.87 million, a price-to-earnings ratio of 34.79 and a beta of 0.18.

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.