SonicShares Global Shipping ETF (NYSEARCA:BOAT) Sees Large Drop in Short Interest

SonicShares Global Shipping ETF (NYSEARCA:BOAT) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 16,966 shares, a drop of 38.4% from the June 15th total of 27,521 shares. Based on an average trading volume of 25,007 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. boosted its holdings in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,431 shares of the company’s stock after buying an additional 755 shares during the quarter. JPMorgan Chase & Co. owned 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent SEC filing.

SonicShares Global Shipping ETF Price Performance

Shares of NYSEARCA:BOAT opened at $41.39 on Friday. The firm has a market capitalization of $73.26 million, a PE ratio of 4.25 and a beta of 0.67. The firm’s 50-day moving average is $41.05 and its two-hundred day moving average is $39.25. SonicShares Global Shipping ETF has a 1 year low of $29.12 and a 1 year high of $43.52.

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.