SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading Down 1.8% – Here’s Why

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s stock price traded down 1.8% during mid-day trading on Friday . The company traded as low as $38.13 and last traded at $38.25. 74,101 shares were traded during trading, an increase of 46% from the average session volume of 50,694 shares. The stock had previously closed at $38.97.

SonicShares Global Shipping ETF Stock Performance

The company has a market capitalization of $53.55 million, a price-to-earnings ratio of 4.25 and a beta of 0.76. The stock’s fifty day simple moving average is $37.02 and its two-hundred day simple moving average is $33.70.

Institutional Trading of SonicShares Global Shipping ETF

A hedge fund recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. boosted its holdings in SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,431 shares of the company’s stock after buying an additional 755 shares during the quarter. JPMorgan Chase & Co. owned 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent SEC filing.

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.