SonicShares Global Shipping ETF (NYSEARCA:BOAT) Share Price Pass Below Two Hundred Day Moving Average – Should You Sell?

SonicShares Global Shipping ETF (NYSEARCA:BOAT)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

SonicShares Global Shipping ETF Stock Down 1.1 %

The company’s 50 day simple moving average is $33.38 and its two-hundred day simple moving average is $34.37. The company has a market capitalization of $44.62 million, a price-to-earnings ratio of 2.42 and a beta of 0.54.

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 first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

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.