Global X Defense Tech ETF (NYSEARCA:SHLD – Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 888,747 shares, a decrease of 62.7% from the September 15th total of 2,382,571 shares. Based on an average daily trading volume, of 2,435,292 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.8% of the company’s shares are short sold.
Institutional Trading of Global X Defense Tech ETF
A number of hedge funds have recently modified their holdings of SHLD. Bank of America Corp DE grew its holdings in Global X Defense Tech ETF by 30.9% during the first quarter. Bank of America Corp DE now owns 9,575,995 shares of the company’s stock valued at $678,363,000 after purchasing an additional 2,262,272 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Global X Defense Tech ETF by 151.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,645,365 shares of the company’s stock worth $329,078,000 after purchasing an additional 2,795,100 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Global X Defense Tech ETF during the first quarter worth $120,428,000. Envestnet Asset Management Inc. boosted its position in shares of Global X Defense Tech ETF by 30.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,362,699 shares of the company’s stock worth $81,367,000 after purchasing an additional 318,805 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Global X Defense Tech ETF by 49.9% during the first quarter. Royal Bank of Canada now owns 817,433 shares of the company’s stock worth $57,907,000 after purchasing an additional 271,959 shares in the last quarter. 57.57% of the stock is currently owned by institutional investors and hedge funds.
Global X Defense Tech ETF Stock Performance
SHLD traded up $0.34 during midday trading on Wednesday, reaching $59.68. 1,294,907 shares of the company were exchanged, compared to its average volume of 1,747,348. The stock has a market capitalization of $6.34 billion, a P/E ratio of -4.93 and a beta of 0.33. Global X Defense Tech ETF has a one year low of $57.89 and a one year high of $78.49. The stock’s 50-day simple moving average is $64.06 and its 200 day simple moving average is $65.03.
Global X Defense Tech ETF Company Profile
The Global X Defense Tech ETF (SHLD) is an exchange-traded fund that is based on the Global X Defense Tech index. The fund tracks a modified market-cap weighted index of the top 50 pure-play defense technology companies from around the world. These companies are considered best positioned to benefit from increased governmental defense spending. SHLD was launched on Sep 11, 2023 and is issued by Global X.
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