SP Funds S&P Global Technology ETF (NYSEARCA:SPTE – Get Free Report) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 36,285 shares, a drop of 44.1% from the July 15th total of 64,882 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 36,800 shares, the short-interest ratio is presently 1.0 days.
Institutional Investors Weigh In On SP Funds S&P Global Technology ETF
Institutional investors and hedge funds have recently made changes to their positions in the stock. World Equity Group Inc. bought a new position in shares of SP Funds S&P Global Technology ETF in the second quarter valued at $232,000. Cetera Investment Advisers acquired a new position in shares of SP Funds S&P Global Technology ETF during the 1st quarter worth about $768,000. Merkkuri Wealth Advisors LLC acquired a new position in shares of SP Funds S&P Global Technology ETF during the 1st quarter worth about $25,000. RFG Advisory LLC bought a new stake in shares of SP Funds S&P Global Technology ETF in the 1st quarter valued at about $574,000. Finally, Mariner LLC bought a new stake in shares of SP Funds S&P Global Technology ETF in the 4th quarter valued at about $292,000.
SP Funds S&P Global Technology ETF Price Performance
NYSEARCA:SPTE traded down $1.45 on Tuesday, hitting $47.01. 52,789 shares of the company’s stock were exchanged, compared to its average volume of 49,543. The firm has a 50-day moving average price of $46.83 and a 200-day moving average price of $42.18. SP Funds S&P Global Technology ETF has a 52 week low of $30.97 and a 52 week high of $50.75. The company has a market cap of $221.89 million, a P/E ratio of 34.36 and a beta of 1.59.
About SP Funds S&P Global Technology ETF
The SP Funds S&P Global Technology ETF (SPTE) is an exchange-traded fund that mostly invests in information technology equity. The fund is a passively managed fund, investing in global technology firms adhering to Shariah investment principles. Stocks selected for the portfolio are weighted based on market-cap SPTE was launched on Nov 30, 2023 and is issued by SP Funds.
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