SonicShares Global Shipping ETF (NYSEARCA:BOAT) Trading 2.9% Higher – Here’s Why

Shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) traded up 2.9% during trading on Wednesday . The stock traded as high as $43.52 and last traded at $43.42. 41,380 shares were traded during mid-day trading, an increase of 5% from the average session volume of 39,390 shares. The stock had previously closed at $42.21.

SonicShares Global Shipping ETF Stock Down 2.6%

The firm has a market cap of $84 million, a PE ratio of 4.25 and a beta of 0.69. The business has a 50-day moving average price of $40.99 and a two-hundred day moving average price of $36.85.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

A hedge fund recently raised its stake 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 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.