SonicShares Global Shipping ETF (NYSEARCA:BOAT) Sees Significant Decline in Short Interest

SonicShares Global Shipping ETF (NYSEARCA:BOAT) saw a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 20,920 shares, a drop of 87.3% from the October 15th total of 165,283 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 222,403 shares, the days-to-cover ratio is presently 0.1 days.

SonicShares Global Shipping ETF Stock Up 1.4%

NYSEARCA BOAT traded up $0.67 during trading on Thursday, hitting $48.05. The company’s stock had a trading volume of 299,118 shares, compared to its average volume of 65,056. SonicShares Global Shipping ETF has a 52 week low of $31.25 and a 52 week high of $55.49. The firm has a market cap of $144.16 million, a P/E ratio of 7.75 and a beta of 0.75. The firm has a 50 day moving average price of $51.50 and a 200 day moving average price of $43.94.

SonicShares Global Shipping ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 28th were paid a $0.7565 dividend. The ex-dividend date was Monday, September 28th. This is a negative change from SonicShares Global Shipping ETF’s previous quarterly dividend of $1.0061. This represents a $3.03 annualized dividend and a dividend yield of 6.3%.

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.