Global X Internet of Things ETF (NASDAQ:SNSR) Sees Significant Drop in Short Interest

Global X Internet of Things ETF (NASDAQ:SNSR) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 3,213 shares, a decline of 38.7% from the August 31st total of 5,238 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 14,219 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Global X Internet of Things ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in Global X Internet of Things ETF by 8.8% in the first quarter. Bank of America Corp DE now owns 784,338 shares of the company’s stock valued at $29,233,000 after purchasing an additional 63,447 shares during the last quarter. Moran Wealth Management LLC grew its holdings in shares of Global X Internet of Things ETF by 5.7% during the first quarter. Moran Wealth Management LLC now owns 48,603 shares of the company’s stock worth $1,811,000 after purchasing an additional 2,603 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Global X Internet of Things ETF by 17.8% in the first quarter. Royal Bank of Canada now owns 16,378 shares of the company’s stock valued at $610,000 after buying an additional 2,472 shares during the period. Cetera Investment Advisers increased its stake in shares of Global X Internet of Things ETF by 4.1% in the first quarter. Cetera Investment Advisers now owns 12,430 shares of the company’s stock valued at $463,000 after buying an additional 485 shares during the period. Finally, Citadel Advisors LLC bought a new position in Global X Internet of Things ETF in the 2nd quarter valued at approximately $451,000.

Global X Internet of Things ETF Stock Performance

Shares of SNSR opened at $48.83 on Thursday. Global X Internet of Things ETF has a 52 week low of $34.20 and a 52 week high of $53.80. The stock has a market capitalization of $214.36 million, a price-to-earnings ratio of 26.18 and a beta of 1.36. The stock has a fifty day moving average of $47.63 and a 200-day moving average of $46.25.

Global X Internet of Things ETF Company Profile

The Global X Internet of Things ETF (SNSR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap-weighted index composed of developed market companies that facilitate the Internet of Things industry. SNSR was launched on Sep 12, 2016 and is managed by Global X.