SonicShares Global Shipping ETF (NYSEARCA:BOAT) Stock Price Up 1.3% – Still a Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT) rose 1.3% on Thursday . The company traded as high as $39.64 and last traded at $39.57. Approximately 88,310 shares changed hands during mid-day trading, an increase of 150% from the average daily volume of 35,261 shares. The stock had previously closed at $39.06.

SonicShares Global Shipping ETF Price Performance

The company has a fifty day moving average price of $34.36 and a 200 day moving average price of $32.67. The company has a market cap of $56.21 million, a PE ratio of 4.25 and a beta of 0.76.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. increased its position in SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,431 shares of the company’s stock after buying an additional 755 shares during the quarter. JPMorgan Chase & Co. owned 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About SonicShares Global Shipping ETF

The SonicShares Global Shipping ETF (BOAT) is an exchange-traded fund that is based on the Solactive Global Shipping index, a modified market-cap-weighted index of globally-listed companies engaged in maritime shipping. BOAT was launched on Aug 3, 2021 and is managed by SonicShares.