SonicShares Global Shipping ETF (NYSEARCA:BOAT) Stock Price Up 2% – Still a Buy?

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s share price traded up 2% during mid-day trading on Monday . The stock traded as high as $41.92 and last traded at $41.70. Approximately 19,883 shares changed hands during trading, a decline of 46% from the average session volume of 37,128 shares. The stock had previously closed at $40.89.

SonicShares Global Shipping ETF Trading Down 0.7%

The firm has a market capitalization of $82.90 million, a PE ratio of 4.25 and a beta of 0.66. The business has a 50-day moving average of $41.42 and a 200 day moving average of $38.33.

Institutional Trading of SonicShares Global Shipping ETF

An institutional investor recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. lifted its position in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,431 shares of the company’s stock after purchasing an additional 755 shares during the period. JPMorgan Chase & Co. owned 0.11% of SonicShares Global Shipping ETF worth $41,000 at the end of the most recent quarter.

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.