Nope, bullets/boolits don't go far in water!
When I was a kid in Eastern Oregon, there was a high banked section of the JohnDay river not far from our house. Happened to be a big bunch of BIG CARP in this spot.
So, one day the boys from next door and I took our hunting rifles down to harvest some carp. They had 270s and I was using my .32 Winchester Special.
Funny, but those carp seemed really close to the surface yet after repeated shots there was no blood in the water and no carp on the bank.
Crusty Deary Ol'Coot