SonicShares Global Shipping ETF (NYSEARCA:BOAT) Shares Up 1.3% – Should You Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s stock price traded up 1.3% during mid-day trading on Tuesday . The stock traded as high as $32.94 and last traded at $32.90. 5,158 shares were traded during mid-day trading, a decline of 79% from the average session volume of 24,110 shares. The stock had previously closed at $32.48.

SonicShares Global Shipping ETF Stock Up 2.2 %

The company has a market cap of $47.63 million, a P/E ratio of 2.42 and a beta of 0.54. The stock has a 50 day moving average price of $33.47 and a two-hundred day moving average price of $34.43.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

A hedge fund recently bought a new stake in SonicShares Global Shipping ETF stock. EverSource Wealth Advisors LLC purchased a new position in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 783 shares of the company’s stock, valued at approximately $26,000. EverSource Wealth Advisors LLC owned approximately 0.05% of SonicShares Global Shipping ETF at the end of the most recent reporting period.

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.