SonicShares Global Shipping ETF (NYSEARCA:BOAT) Shares Up 0.5% – Still a Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT) shares traded up 0.5% during trading on Monday . The stock traded as high as $32.71 and last traded at $32.56. 8,374 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 14,001 shares. The stock had previously closed at $32.40.

SonicShares Global Shipping ETF Price Performance

The firm has a market capitalization of $43.96 million, a P/E ratio of 4.25 and a beta of 0.76. The business has a 50 day moving average price of $31.67 and a 200 day moving average price of $31.13.

Institutional Trading of SonicShares Global Shipping ETF

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. raised its stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,431 shares of the company’s stock after acquiring an additional 755 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent filing with the SEC.

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.