Bitwise Web3 ETF (NYSEARCA:BWEB) Short Interest Up 461.5% in October

Bitwise Web3 ETF (NYSEARCA:BWEB) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 7,300 shares, a growth of 461.5% from the September 30th total of 1,300 shares. Based on an average trading volume of 800 shares, the days-to-cover ratio is presently 9.1 days. Currently, 9.1% of the company’s shares are short sold. Currently, 9.1% of the company’s shares are short sold. Based on an average trading volume of 800 shares, the days-to-cover ratio is presently 9.1 days.

Institutional Investors Weigh In On Bitwise Web3 ETF

A hedge fund recently raised its stake in Bitwise Web3 ETF stock. Jane Street Group LLC boosted its holdings in Bitwise Web3 ETF (NYSEARCA:BWEB) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,604 shares of the company’s stock after purchasing an additional 745 shares during the quarter. Jane Street Group LLC owned about 18.13% of Bitwise Web3 ETF worth $560,000 at the end of the most recent quarter.

Bitwise Web3 ETF Price Performance

Shares of BWEB opened at $86.78 on Thursday. The company has a market capitalization of $6.94 million, a price-to-earnings ratio of 31.67 and a beta of 2.30. The business has a 50-day moving average of $80.14 and a 200-day moving average of $68.90. Bitwise Web3 ETF has a 1 year low of $41.19 and a 1 year high of $88.75.

About Bitwise Web3 ETF

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.