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

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a significant decrease in short interest in 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 currently 0.7 days. Approximately 1.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

A hedge fund recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. lifted its stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,776 shares of the company’s stock after acquiring an additional 4,345 shares during the period. JPMorgan Chase & Co. owned approximately 0.43% of SonicShares Global Shipping ETF worth $179,000 as of its most recent SEC filing.

SonicShares Global Shipping ETF Stock Performance

SonicShares Global Shipping ETF stock 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 firm’s fifty day moving average price is $41.08 and its 200-day moving average price is $39.23. The stock has a market cap of $73.56 million, a P/E ratio of 4.25 and a beta of 0.67.

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.