SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading 2.9% Higher – Still a Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s stock price shot up 2.9% during mid-day trading on Wednesday . The company traded as high as $43.52 and last traded at $43.42. 41,380 shares were traded during trading, an increase of 5% from the average session volume of 39,390 shares. The stock had previously closed at $42.21.

SonicShares Global Shipping ETF Trading Up 2.9%

The stock’s 50-day simple moving average is $40.94 and its 200-day simple moving average is $36.77. The stock has a market cap of $86.84 million, a price-to-earnings ratio of 4.25 and a beta of 0.69.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. grew 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 filing with the Securities & Exchange Commission. 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 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.