SonicShares Global Shipping ETF (NYSEARCA:BOAT) Sees Large Growth in Short Interest

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 54,593 shares, an increase of 139.3% from the August 31st total of 22,816 shares. Based on an average daily volume of 72,149 shares, the short-interest ratio is presently 0.8 days. Currently, 2.3% of the shares of the stock are sold short.

SonicShares Global Shipping ETF Stock Down 0.7%

BOAT traded down $0.38 during trading on Friday, reaching $50.92. The stock had a trading volume of 31,365 shares, compared to its average volume of 40,766. The firm has a market capitalization of $135.96 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 $29.12 and a 1-year high of $53.99. The stock has a 50 day moving average of $47.77 and a two-hundred day moving average of $43.29.

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.