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

Bitwise Web3 ETF (NYSEARCA:BWEB) was the recipient 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 daily trading volume, of 664 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are short sold. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 664 shares, the days-to-cover ratio is presently 0.3 days.

Bitwise Web3 ETF Stock Down 2.9%

Shares of BWEB stock opened at $63.30 on Friday. The firm has a 50 day moving average of $72.17 and a 200-day moving average of $75.43. The company has a market cap of $5.06 million, a price-to-earnings ratio of 31.67 and a beta of 2.30. Bitwise Web3 ETF has a 52 week low of $41.19 and a 52 week high of $88.75.

Hedge Funds Weigh In On Bitwise Web3 ETF

Several institutional investors have recently made changes to their positions in BWEB. Ankerstar Wealth LLC bought a new position in shares of Bitwise Web3 ETF during the 4th quarter worth about $76,000. Jane Street Group LLC increased its position in Bitwise Web3 ETF by 25.7% in the 4th 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 bought a new stake in Bitwise Web3 ETF in the 4th quarter valued at about $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.