SonicShares Global Shipping ETF (NYSEARCA:BOAT) Stock Price Up 1.3% – Should You Buy?

Shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) traded up 1.3% during mid-day trading on Thursday . The company traded as high as $39.64 and last traded at $39.57. 88,310 shares traded hands during trading, an increase of 150% from the average session volume of 35,261 shares. The stock had previously closed at $39.06.

SonicShares Global Shipping ETF Stock Performance

The stock has a market cap of $55.40 million, a price-to-earnings ratio of 4.25 and a beta of 0.76. The business’s 50 day moving average is $34.20 and its 200 day moving average is $32.60.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. raised its holdings in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,431 shares of the company’s stock after acquiring an additional 755 shares during the quarter. JPMorgan Chase & Co. owned approximately 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.