SonicShares Global Shipping ETF (NYSEARCA:BOAT) Share Price Cross Below 200-Day Moving Average – What’s Next?

Shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.17 and traded as low as $30.75. SonicShares Global Shipping ETF shares last traded at $30.83, with a volume of 9,969 shares trading hands.

SonicShares Global Shipping ETF Stock Down 0.9 %

The firm has a market cap of $44.70 million, a price-to-earnings ratio of 2.42 and a beta of 0.54. The stock has a 50 day moving average of $33.00 and a 200 day moving average of $34.17.

Institutional Inflows and Outflows

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 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 783 shares of the company’s stock, valued at approximately $26,000. EverSource Wealth Advisors LLC owned about 0.05% of SonicShares Global Shipping ETF 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.