SonicShares Global Shipping ETF (NYSEARCA:BOAT) Sees Large Decrease in Short Interest

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 16,966 shares, a decrease of 38.4% from the June 15th total of 27,521 shares. Based on an average daily trading volume, of 25,007 shares, the short-interest ratio is presently 0.7 days. Approximately 1.0% of the shares of the company are short sold.

SonicShares Global Shipping ETF Stock Performance

Shares of BOAT opened at $41.56 on Friday. SonicShares Global Shipping ETF has a fifty-two week low of $29.12 and a fifty-two week high of $43.52. The business has a 50-day moving average of $41.08 and a 200 day moving average of $39.23. The firm has a market cap of $73.56 million, a P/E ratio of 4.25 and a beta of 0.67.

Institutional Trading of SonicShares Global Shipping ETF

An institutional investor recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. boosted its holdings 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. The institutional investor owned 1,431 shares of the company’s stock after buying an additional 755 shares during the period. JPMorgan Chase & Co. owned approximately 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

SonicShares Global Shipping ETF Company Profile

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.