SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading 0.5% Higher – Here’s Why

Shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) traded up 0.5% on Monday . The stock traded as high as $32.71 and last traded at $32.56. 8,374 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 14,001 shares. The stock had previously closed at $32.40.

SonicShares Global Shipping ETF Trading Up 0.5%

The company’s 50 day simple moving average is $31.67 and its 200-day simple moving average is $31.13. The firm has a market cap of $43.96 million, a P/E ratio of 4.25 and a beta of 0.76.

Institutional Inflows and Outflows

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 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,431 shares of the company’s stock after buying an additional 755 shares during the period. JPMorgan Chase & Co. owned about 0.11% of SonicShares Global Shipping ETF worth $41,000 at the end of the most recent quarter.

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.