SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading Up 1.3% – Here’s What Happened

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s share price rose 1.3% on Friday . The stock traded as high as $32.21 and last traded at $32.14. Approximately 4,424 shares traded hands during trading, a decline of 69% from the average daily volume of 14,307 shares. The stock had previously closed at $31.73.

SonicShares Global Shipping ETF Stock Performance

The firm has a market capitalization of $43.39 million, a price-to-earnings ratio of 4.25 and a beta of 0.76. The firm’s 50-day moving average price is $31.62 and its two-hundred day moving average price is $30.68.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

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

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.