SonicShares Global Shipping ETF (NYSEARCA:BOAT) Shares Cross Below 200 Day Moving Average – Here’s Why

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.41 and traded as low as $31.12. SonicShares Global Shipping ETF shares last traded at $31.12, with a volume of 9,355 shares.

SonicShares Global Shipping ETF Price Performance

The firm has a market cap of $45.12 million, a P/E ratio of 2.42 and a beta of 0.54. The firm’s 50 day moving average is $33.43 and its 200 day moving average is $34.41.

Institutional Trading of SonicShares Global Shipping ETF

An institutional investor recently bought a new position in SonicShares Global Shipping ETF stock. EverSource Wealth Advisors LLC acquired a new stake in shares of SonicShares Global Shipping ETF (NYSEARCA:BOAT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 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.