Short Interest in SonicShares Global Shipping ETF (NYSEARCA:BOAT) Declines By 38.4%

SonicShares Global Shipping ETF (NYSEARCA:BOAT) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 16,966 shares, a decline of 38.4% from the June 15th total of 27,521 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 25,007 shares, the days-to-cover ratio is currently 0.7 days.

SonicShares Global Shipping ETF Trading Down 0.4%

NYSEARCA BOAT opened at $41.39 on Friday. The stock has a market cap of $73.26 million, a PE ratio of 4.25 and a beta of 0.67. SonicShares Global Shipping ETF has a 12 month low of $29.12 and a 12 month high of $43.52. The company’s 50-day moving average price is $41.05 and its 200-day moving average price is $39.25.

Hedge Funds Weigh In On SonicShares Global Shipping ETF

An institutional investor recently raised its stake in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. lifted its stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 111.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,431 shares of the company’s stock after acquiring an additional 755 shares during the quarter. JPMorgan Chase & Co. owned approximately 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.