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

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

Breakwave Tanker Shipping ETF Price Performance

Shares of NYSEARCA BWET traded down $7.18 during trading on Wednesday, hitting $991.82. The stock had a trading volume of 40,455 shares, compared to its average volume of 142,536. The firm has a fifty day moving average of $609.36 and a two-hundred day moving average of $331.72. The company has a market capitalization of $297.54 million, a PE ratio of 34.79 and a beta of -0.13. Breakwave Tanker Shipping ETF has a 12 month low of $15.41 and a 12 month high of $1,051.94.

About Breakwave Tanker Shipping ETF

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.