SonicShares Global Shipping ETF (NYSEARCA:BOAT) Short Interest Update

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 27,521 shares, a growth of 337.0% from the May 31st total of 6,298 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 23,666 shares, the short-interest ratio is currently 1.2 days.

SonicShares Global Shipping ETF Stock Performance

Shares of BOAT traded down $0.77 during mid-day trading on Friday, hitting $39.61. 33,376 shares of the company were exchanged, compared to its average volume of 36,498. The stock has a market cap of $79.22 million, a price-to-earnings ratio of 4.25 and a beta of 0.66. SonicShares Global Shipping ETF has a 1-year low of $28.30 and a 1-year high of $43.52. The company has a 50 day moving average of $41.39 and a 200-day moving average of $38.45.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

A hedge fund recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. raised its position in SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,431 shares of the company’s stock after purchasing an additional 755 shares during the period. 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 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.