Short Interest in SonicShares Global Shipping ETF (NYSEARCA:BOAT) Grows By 293.9%

SonicShares Global Shipping ETF (NYSEARCA:BOAT) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 54,796 shares, a growth of 293.9% from the July 15th total of 13,912 shares. Based on an average daily trading volume, of 26,209 shares, the days-to-cover ratio is currently 2.1 days. Approximately 3.1% of the shares of the company are short sold.

Institutional Trading of SonicShares Global Shipping ETF

An institutional investor recently raised its position in SonicShares Global Shipping ETF stock. JPMorgan Chase & Co. boosted its stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) by 303.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,776 shares of the company’s stock after purchasing an additional 4,345 shares during the period. JPMorgan Chase & Co. owned about 0.43% of SonicShares Global Shipping ETF worth $179,000 at the end of the most recent reporting period.

SonicShares Global Shipping ETF Stock Performance

Shares of NYSEARCA:BOAT opened at $44.35 on Thursday. The firm has a market cap of $78.50 million, a price-to-earnings ratio of 4.25 and a beta of 0.65. The business has a 50-day simple moving average of $41.68 and a two-hundred day simple moving average of $40.64. SonicShares Global Shipping ETF has a fifty-two week low of $29.12 and a fifty-two week high of $44.51.

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.