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While most investors and analysts were focused on the technology sector – with a particular eye for the wider artificial intelligence (AI) space – and energy, a different industry produced one of the best-performing exchange-traded funds (ETFs) on record.
BWET hits a fresh 52-week high as shipping disruptions and soaring freight rates fuel gains.
Cooling inflation and softer jobs data eased Fed rate-hike fears, while AI, neocloud and memory ETFs delivered strong gains last week.
Breakwave Tanker Shipping ETF BWET is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has moved up 3109% from its 52-week low price of $11.53 per share.
The Breakwave Tanker Shipping ETF (NYSEARCA:BWET) closed at $252 in the most recent session after a 38% gain over the past month and a 1,390% year-to-date advance.
Oil, rising yields and AI spending reshaped July's ETF winners. Here are the top-performing ETFs that thrived in a volatile month.
Breakwave Tanker Shipping ETF (NYSEARCA:BWET - Get Free Report) fell 2.1% during mid-day trading on Wednesday. The stock traded as low as $238.01 and last traded at $238.01. Approximately 261,521 shares traded hands during mid-day trading, an increase of 137% from the average daily volume of 110,312 shares. The stock had previously closed at
Middle East tensions, AI-driven tech weakness and stock-specific swings fueled big moves in leveraged ETFs. Here's a look at last week's top performers.
SEC filings for BWET aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.