Short Interest in Bitwise Web3 ETF (NYSEARCA:BWEB) Declines By 39.2%

Bitwise Web3 ETF (NYSEARCA:BWEB) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 45 shares, a decline of 39.2% from the April 30th total of 74 shares. Based on an average daily volume of 863 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Bitwise Web3 ETF

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC lifted its position in Bitwise Web3 ETF by 6.9% during the first quarter. Jane Street Group LLC now owns 11,604 shares of the company’s stock valued at $560,000 after purchasing an additional 745 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Bitwise Web3 ETF during the fourth quarter valued at approximately $788,000. Finally, Ankerstar Wealth LLC bought a new stake in Bitwise Web3 ETF during the fourth quarter valued at approximately $76,000.

Bitwise Web3 ETF Stock Performance

Bitwise Web3 ETF stock remained flat at $76.83 during mid-day trading on Thursday. 39 shares of the company’s stock traded hands, compared to its average volume of 543. Bitwise Web3 ETF has a twelve month low of $58.52 and a twelve month high of $88.75. The firm has a market capitalization of $6.15 million, a PE ratio of 31.67 and a beta of 2.11. The business’s 50 day moving average price is $72.00 and its two-hundred day moving average price is $71.00.

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.