SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading Up 1.6% – What’s Next?

SonicShares Global Shipping ETF (NYSEARCA:BOAT) shot up 1.6% on Wednesday . The company traded as high as $35.55 and last traded at $35.46. 22,488 shares traded hands during trading, an increase of 44% from the average session volume of 15,572 shares. The stock had previously closed at $34.89.

SonicShares Global Shipping ETF Trading Up 1.6%

The firm has a market capitalization of $47.87 million, a price-to-earnings ratio of 4.25 and a beta of 0.76. The stock has a fifty day moving average price of $32.72 and a 200-day moving average price of $31.85.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. grew its position in SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,431 shares of the company’s stock after purchasing an additional 755 shares during the period. JPMorgan Chase & Co. owned about 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent filing with the 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.