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

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 5,100 shares, a decline of 71.0% from the April 30th total of 17,591 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 22,174 shares, the days-to-cover ratio is currently 0.2 days.

SonicShares Global Shipping ETF Price Performance

BOAT opened at $40.32 on Friday. The company’s 50 day simple moving average is $41.20 and its two-hundred day simple moving average is $37.19. SonicShares Global Shipping ETF has a 1-year low of $28.30 and a 1-year high of $43.52. The firm has a market capitalization of $80.64 million, a price-to-earnings ratio of 4.25 and a beta of 0.69.

Institutional Inflows and Outflows

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