SonicShares Global Shipping ETF (NYSEARCA:BOAT) Shares Up 1.7% – Still a Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s share price rose 1.7% during trading on Friday . The stock traded as high as $44.51 and last traded at $44.39. 15,290 shares changed hands during trading, a decline of 55% from the average daily volume of 34,293 shares. The stock had previously closed at $43.65.

SonicShares Global Shipping ETF Stock Up 1.7%

The stock’s 50 day moving average price is $41.49 and its two-hundred day moving average price is $40.37. The firm has a market capitalization of $78.57 million, a price-to-earnings ratio of 4.25 and a beta of 0.65.

Institutional Inflows and Outflows

A hedge fund recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. grew its position in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% in the 2nd quarter, according to the company in its most recent 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 approximately 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.