SonicShares Global Shipping ETF (NYSEARCA:BOAT) Sees Significant Decrease in Short Interest

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 5,100 shares, a drop of 71.0% from the April 30th total of 17,591 shares. Based on an average daily trading volume, of 22,174 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. boosted its position in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% in the 2nd quarter, according to its most recent disclosure 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 at the end of the most recent quarter.

SonicShares Global Shipping ETF Trading Down 0.5%

BOAT stock traded down $0.20 during trading hours on Friday, hitting $40.12. 40,974 shares of the stock traded hands, compared to its average volume of 39,135. The stock has a 50-day simple moving average of $41.19 and a 200 day simple moving average of $37.21. SonicShares Global Shipping ETF has a one year low of $28.30 and a one year high of $43.52. The company has a market cap of $80.24 million, a P/E ratio of 4.25 and a beta of 0.69.

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.