SonicShares Global Shipping ETF (NYSEARCA:BOAT) Short Interest Update

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 24,879 shares, a drop of 54.6% from the July 30th total of 54,796 shares. Based on an average daily volume of 32,261 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.4% of the company’s shares are sold short.

SonicShares Global Shipping ETF Stock Performance

Shares of NYSEARCA BOAT traded down $0.24 during midday trading on Monday, reaching $48.74. The stock had a trading volume of 18,551 shares, compared to its average volume of 35,285. The company’s 50 day moving average price is $43.35 and its 200 day moving average price is $41.72. SonicShares Global Shipping ETF has a twelve month low of $29.12 and a twelve month high of $50.51. The firm has a market cap of $86.27 million, a price-to-earnings ratio of 4.25 and a beta of 0.65.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

An institutional investor recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. grew its holdings in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,776 shares of the company’s stock after acquiring an additional 4,345 shares during the period. JPMorgan Chase & Co. owned 0.43% of SonicShares Global Shipping ETF worth $179,000 as of its most recent SEC filing.

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.