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

SonicShares Global Shipping ETF (NYSEARCA:BOAT) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 54,796 shares, an increase of 293.9% from the July 15th total of 13,912 shares. Based on an average daily volume of 26,209 shares, the short-interest ratio is presently 2.1 days. Currently, 3.1% of the shares of the stock 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. grew 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 disclosure with the SEC. The fund owned 1,431 shares of the company’s stock after buying an additional 755 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.11% of SonicShares Global Shipping ETF worth $41,000 as of its most recent SEC filing.

SonicShares Global Shipping ETF Trading Up 2.1%

Shares of SonicShares Global Shipping ETF stock opened at $46.40 on Friday. The firm has a market capitalization of $82.13 million, a PE ratio of 4.25 and a beta of 0.65. The firm’s 50 day moving average is $41.89 and its 200 day moving average is $40.76. SonicShares Global Shipping ETF has a 1 year low of $29.12 and a 1 year high of $46.46.

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.