Global X Defense Tech ETF (NYSEARCA:SHLD) Sees Large Decrease in Short Interest

Global X Defense Tech ETF (NYSEARCA:SHLD) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 227,867 shares, a decrease of 74.4% from the September 30th total of 888,747 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 1,077,795 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SHLD. Financial Life Planners purchased a new stake in shares of Global X Defense Tech ETF during the first quarter valued at about $26,000. CX Institutional acquired a new stake in shares of Global X Defense Tech ETF in the 2nd quarter worth $29,000. Raleigh Capital Management Inc. grew its stake in Global X Defense Tech ETF by 102.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 489 shares of the company’s stock worth $29,000 after buying an additional 248 shares during the last quarter. GK Wealth Management LLC purchased a new stake in Global X Defense Tech ETF in the third quarter valued at about $32,000. Finally, Manchester Capital Management LLC acquired a new stake in Global X Defense Tech ETF in the third quarter worth about $32,000. 57.57% of the stock is currently owned by institutional investors.

Global X Defense Tech ETF Stock Down 1.7%

Shares of Global X Defense Tech ETF stock traded down $1.11 during trading hours on Friday, reaching $63.88. 565,337 shares of the stock traded hands, compared to its average volume of 1,701,565. The company has a 50 day moving average price of $62.42 and a 200 day moving average price of $67.44. Global X Defense Tech ETF has a one year low of $57.89 and a one year high of $78.49. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of -5.28 and a beta of 0.33.

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.