Global X Defense Tech ETF (NYSEARCA:SHLD) Sees Strong Trading Volume – Here’s Why

Shares of Global X Defense Tech ETF (NYSEARCA:SHLD) saw strong trading volume on Tuesday . Approximately 5,257,662 shares traded hands during trading, an increase of 199% from the previous session’s volume of 1,755,748 shares.The stock last traded at $61.94 and had previously closed at $63.18.

Global X Defense Tech ETF Price Performance

The stock has a market cap of $6.89 billion, a P/E ratio of -5.12 and a beta of 0.27. The stock’s 50-day moving average is $64.62 and its two-hundred day moving average is $66.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Chatterton & Associates Inc. raised its holdings in Global X Defense Tech ETF by 121.0% during the 1st quarter. Chatterton & Associates Inc. now owns 20,999 shares of the company’s stock valued at $1,559,000 after buying an additional 11,499 shares during the period. Kestra Private Wealth Services LLC boosted its stake in Global X Defense Tech ETF by 20.3% during the first quarter. Kestra Private Wealth Services LLC now owns 74,424 shares of the company’s stock worth $5,272,000 after buying an additional 12,537 shares during the period. Independent Financial Group LLC bought a new position in Global X Defense Tech ETF during the first quarter valued at $6,698,000. Wealth Alliance LLC increased its position in Global X Defense Tech ETF by 269.7% during the first quarter. Wealth Alliance LLC now owns 26,385 shares of the company’s stock valued at $1,869,000 after acquiring an additional 19,249 shares during the last quarter. Finally, EWA LLC raised its stake in shares of Global X Defense Tech ETF by 66.8% in the first quarter. EWA LLC now owns 129,631 shares of the company’s stock valued at $9,183,000 after acquiring an additional 51,899 shares during the period. Institutional investors own 57.57% of the company’s stock.

About Global X Defense Tech ETF

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.