SonicShares Global Shipping ETF (NYSEARCA:BOAT) Short Interest Down 54.6% in August

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 24,879 shares, a decline of 54.6% from the July 30th total of 54,796 shares. Based on an average trading volume of 32,261 shares, the short-interest ratio is presently 0.8 days. Approximately 1.4% of the company’s shares are short sold.

Institutional Trading of SonicShares Global Shipping ETF

A hedge fund recently raised its stake 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 second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

SonicShares Global Shipping ETF Trading Up 0.0%

NYSEARCA:BOAT traded up $0.02 on Friday, hitting $48.98. 23,824 shares of the stock were exchanged, compared to its average volume of 35,390. The stock has a fifty day moving average of $43.35 and a 200-day moving average of $41.68. The stock has a market cap of $86.69 million, a PE ratio of 4.25 and a beta of 0.65. SonicShares Global Shipping ETF has a fifty-two week low of $29.12 and a fifty-two week high of $50.51.

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.