SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading Down 0.4% – Time to Sell?

SonicShares Global Shipping ETF (NYSEARCA:BOAT) shares fell 0.4% during mid-day trading on Thursday . The company traded as low as $31.52 and last traded at $31.80. 13,351 shares were traded during mid-day trading, a decline of 9% from the average session volume of 14,635 shares. The stock had previously closed at $31.93.

SonicShares Global Shipping ETF Price Performance

The stock has a fifty day moving average price of $31.62 and a 200-day moving average price of $29.96. The company has a market cap of $42.93 million, a PE ratio of 4.25 and a beta of 0.76.

Institutional Trading of SonicShares Global Shipping ETF

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. increased its position in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,431 shares of the company’s stock after acquiring an additional 755 shares during the period. JPMorgan Chase & Co. owned about 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

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.