SonicShares Global Shipping ETF (NYSEARCA:BOAT) Short Interest Down 54.6% in August

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 24,879 shares, a drop of 54.6% from the July 30th total of 54,796 shares. Based on an average trading volume of 32,261 shares, the short-interest ratio is presently 0.8 days. Approximately 1.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. grew its stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,776 shares of the company’s stock after purchasing an additional 4,345 shares during the quarter. JPMorgan Chase & Co. owned 0.43% of SonicShares Global Shipping ETF worth $179,000 at the end of the most recent quarter.

SonicShares Global Shipping ETF Stock Performance

Shares of NYSEARCA:BOAT traded up $0.02 during midday trading on Friday, hitting $48.98. 23,824 shares of the company’s stock traded hands, compared to its average volume of 35,390. The company has a market cap of $86.69 million, a PE ratio of 4.25 and a beta of 0.65. The firm’s fifty day moving average price is $43.35 and its two-hundred day moving average price is $41.68. SonicShares Global Shipping ETF has a twelve month low of $29.12 and a twelve month high of $50.51.

About SonicShares Global Shipping ETF

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.