SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading Up 1.6% – Time to Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s stock price were up 1.6% on Wednesday . The stock traded as high as $35.55 and last traded at $35.46. Approximately 22,488 shares were traded during trading, an increase of 44% from the average daily volume of 15,572 shares. The stock had previously closed at $34.89.

SonicShares Global Shipping ETF Price Performance

The firm has a market capitalization of $47.87 million, a price-to-earnings ratio of 4.25 and a beta of 0.76. The business has a 50 day moving average of $32.72 and a 200 day moving average of $31.85.

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. boosted its holdings in SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,776 shares of the company’s stock after acquiring 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 quarter.

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.