SonicShares Global Shipping ETF (NYSEARCA:BOAT) Short Interest Update

SonicShares Global Shipping ETF (NYSEARCA:BOAT) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 27,521 shares, a growth of 337.0% from the May 31st total of 6,298 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily volume of 23,666 shares, the days-to-cover ratio is currently 1.2 days.

SonicShares Global Shipping ETF Stock Down 1.9%

Shares of SonicShares Global Shipping ETF stock traded down $0.77 on Friday, reaching $39.61. The company’s stock had a trading volume of 33,376 shares, compared to its average volume of 36,498. The company has a market capitalization of $79.22 million, a P/E ratio of 4.25 and a beta of 0.66. SonicShares Global Shipping ETF has a 52-week low of $28.30 and a 52-week high of $43.52. The stock has a 50-day moving average price of $41.39 and a 200-day moving average price of $38.45.

Institutional Investors Weigh In On SonicShares Global Shipping ETF

A hedge fund recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. raised its stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,776 shares of the company’s stock after purchasing an additional 4,345 shares during the period. JPMorgan Chase & Co. owned 0.43% of SonicShares Global Shipping ETF worth $179,000 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.