Bitwise Web3 ETF (NYSEARCA:BWEB) Sees Large Decline in Short Interest

Bitwise Web3 ETF (NYSEARCA:BWEB) was the target of a significant decline in short interest in 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 daily volume of 664 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are sold short. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 664 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Ankerstar Wealth LLC acquired a new stake in shares of Bitwise Web3 ETF in the 4th quarter valued at approximately $76,000. Jane Street Group LLC boosted its position 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 buying an additional 1,163 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Bitwise Web3 ETF in the fourth quarter valued at approximately $788,000.

Bitwise Web3 ETF Stock Performance

Shares of BWEB stock opened at $63.30 on Friday. Bitwise Web3 ETF has a fifty-two week low of $41.19 and a fifty-two week high of $88.75. The stock’s fifty day moving average price is $72.17 and its two-hundred day moving average price is $75.43. The company has a market cap of $5.06 million, a PE ratio of 31.67 and a beta of 2.30.

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.