Bitwise Web3 ETF (NYSEARCA:BWEB) Short Interest Down 39.2% in May

Bitwise Web3 ETF (NYSEARCA:BWEB) saw a significant decline in short interest in 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. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 863 shares, the short-interest ratio is currently 0.1 days.

Bitwise Web3 ETF Stock Performance

NYSEARCA:BWEB remained flat at $76.83 during mid-day trading on Wednesday. 39 shares of the company’s stock traded hands, compared to its average volume of 543. The business’s 50-day moving average price is $71.60 and its two-hundred day moving average price is $70.97. The company has a market capitalization of $6.15 million, a PE ratio of 31.67 and a beta of 2.11. Bitwise Web3 ETF has a one year low of $58.52 and a one year high of $88.75.

Institutional Trading of Bitwise Web3 ETF

Hedge funds have recently modified their holdings of the stock. Ankerstar Wealth LLC acquired a new stake in Bitwise Web3 ETF during the fourth quarter worth about $76,000. Jane Street Group LLC lifted its holdings in Bitwise Web3 ETF by 25.7% in the fourth quarter. Jane Street Group LLC now owns 5,692 shares of the company’s stock valued at $403,000 after acquiring an additional 1,163 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Bitwise Web3 ETF in the fourth quarter valued at approximately $788,000.

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.