SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) Sees Significant Growth in Short Interest

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 20,726 shares, an increase of 260.4% from the August 15th total of 5,751 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 41,632 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of SP Funds S&P Global Technology ETF during the 4th quarter worth about $1,443,000. Susquehanna International Group LLP raised its position in shares of SP Funds S&P Global Technology ETF by 96.4% in the third quarter. Susquehanna International Group LLP now owns 48,628 shares of the company’s stock valued at $1,672,000 after buying an additional 23,870 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of SP Funds S&P Global Technology ETF during the first quarter valued at approximately $768,000. RFG Advisory LLC acquired a new stake in SP Funds S&P Global Technology ETF during the first quarter worth approximately $574,000. Finally, Flow Traders U.S. LLC purchased a new stake in SP Funds S&P Global Technology ETF in the 2nd quarter worth approximately $345,000.

SP Funds S&P Global Technology ETF Trading Up 0.9%

Shares of SPTE stock traded up $0.44 during trading hours on Friday, hitting $47.94. The company’s stock had a trading volume of 19,889 shares, compared to its average volume of 48,400. The business has a fifty day moving average of $46.77 and a 200-day moving average of $43.52. The stock has a market cap of $226.28 million, a price-to-earnings ratio of 34.36 and a beta of 1.60. SP Funds S&P Global Technology ETF has a twelve month low of $32.74 and a twelve month high of $50.75.

SP Funds S&P Global Technology ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, July 28th. Investors of record on Monday, July 27th were paid a dividend of $0.0065 per share. The ex-dividend date of this dividend was Monday, July 27th. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%.

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.