SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading Up 2% – Still a Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s share price shot up 2% on Monday . The stock traded as high as $41.92 and last traded at $41.70. 19,883 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 37,128 shares. The stock had previously closed at $40.89.

SonicShares Global Shipping ETF Stock Performance

The business has a 50-day moving average of $41.41 and a 200-day moving average of $38.26. The stock has a market capitalization of $83.40 million, a price-to-earnings ratio of 4.25 and a beta of 0.66.

Institutional Trading of SonicShares Global Shipping ETF

An institutional investor recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. boosted its stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,431 shares of the company’s stock after acquiring an additional 755 shares during the quarter. JPMorgan Chase & Co. owned about 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

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.