Bitwise Web3 ETF (NYSEARCA:BWEB) Short Interest Update

Bitwise Web3 ETF (NYSEARCA:BWEB) was the target of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 167 shares, a decline of 34.8% from the January 15th total of 256 shares. Based on an average trading volume of 664 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are sold short. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 664 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Bitwise Web3 ETF

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its holdings in shares of Bitwise Web3 ETF by 6.9% in the 1st quarter. Jane Street Group LLC now owns 11,604 shares of the company’s stock worth $560,000 after buying an additional 745 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Bitwise Web3 ETF in the 4th quarter worth approximately $788,000. Finally, Ankerstar Wealth LLC acquired a new stake in Bitwise Web3 ETF during the 4th quarter valued at $76,000.

Bitwise Web3 ETF Price Performance

Bitwise Web3 ETF stock traded up $1.28 during midday trading on Friday, reaching $64.58. The stock had a trading volume of 321 shares, compared to its average volume of 1,021. Bitwise Web3 ETF has a twelve month low of $41.19 and a twelve month high of $88.75. The firm has a market cap of $5.17 million, a price-to-earnings ratio of 31.67 and a beta of 2.30. The firm’s fifty day simple moving average is $71.95 and its two-hundred day simple moving average is $75.38.

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.