SonicShares Global Shipping ETF (NYSEARCA:BOAT) Shares Down 1.8% – Here’s Why

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s share price fell 1.8% during mid-day trading on Friday . The stock traded as low as $38.13 and last traded at $38.25. 74,101 shares changed hands during trading, an increase of 46% from the average session volume of 50,694 shares. The stock had previously closed at $38.97.

SonicShares Global Shipping ETF Stock Performance

The business has a fifty day simple moving average of $37.02 and a 200 day simple moving average of $33.68. The stock has a market cap of $53.55 million, a price-to-earnings ratio of 4.25 and a beta of 0.76.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. raised its position in SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% during 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 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.