Short Interest in SonicShares Global Shipping ETF (NYSEARCA:BOAT) Rises By 293.9%

SonicShares Global Shipping ETF (NYSEARCA:BOAT) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 54,796 shares, a growth of 293.9% from the July 15th total of 13,912 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily volume of 26,209 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Inflows and Outflows

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% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,431 shares of the company’s stock after buying an additional 755 shares during the period. JPMorgan Chase & Co. owned about 0.11% of SonicShares Global Shipping ETF worth $41,000 at the end of the most recent reporting period.

SonicShares Global Shipping ETF Stock Up 2.1%

Shares of NYSEARCA BOAT traded up $0.94 during midday trading on Friday, hitting $46.40. The stock had a trading volume of 33,615 shares, compared to its average volume of 34,048. SonicShares Global Shipping ETF has a 1 year low of $29.12 and a 1 year high of $46.46. The stock has a 50 day simple moving average of $41.78 and a 200-day simple moving average of $40.72. The company has a market capitalization of $82.13 million, a PE ratio of 4.25 and a beta of 0.65.

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.