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

Breakwave Tanker Shipping ETF (NYSEARCA:BWET) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 68,719 shares, an increase of 367.5% from the August 31st total of 14,699 shares. Based on an average daily volume of 229,871 shares, the short-interest ratio is presently 0.3 days. Currently, 16.8% of the shares of the stock are sold short.

Breakwave Tanker Shipping ETF Stock Up 2.5%

Shares of Breakwave Tanker Shipping ETF stock traded up $17.43 on Friday, reaching $701.72. The company’s stock had a trading volume of 59,821 shares, compared to its average volume of 145,513. The company has a market capitalization of $287.71 million, a P/E ratio of 34.79 and a beta of 0.18. Breakwave Tanker Shipping ETF has a 52-week low of $13.58 and a 52-week high of $872.14. The stock has a 50-day moving average price of $444.47 and a 200-day moving average price of $258.25.

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.