Short Interest in SonicShares Global Shipping ETF (NYSEARCA:BOAT) Grows By 293.9%

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 54,796 shares, an increase of 293.9% from the July 15th total of 13,912 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 26,209 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

A hedge fund recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. grew its holdings in SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and 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 about 0.43% of SonicShares Global Shipping ETF worth $179,000 as of its most recent SEC filing.

SonicShares Global Shipping ETF Stock Up 2.0%

NYSEARCA:BOAT opened at $44.35 on Thursday. The company’s 50 day moving average price is $41.68 and its 200-day moving average price is $40.64. SonicShares Global Shipping ETF has a 52 week low of $29.12 and a 52 week high of $44.51. The stock has a market cap of $78.50 million, a price-to-earnings ratio of 4.25 and a beta of 0.65.

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.