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

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 48,890 shares, an increase of 135.9% from the August 31st total of 20,726 shares. Based on an average daily volume of 57,031 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.9% of the company’s stock are short sold.

SP Funds S&P Global Technology ETF Stock Performance

Shares of SPTE traded up $0.65 on Friday, hitting $50.20. 26,474 shares of the stock traded hands, compared to its average volume of 48,975. The company has a market capitalization of $261.04 million, a PE ratio of 34.36 and a beta of 1.60. The business has a 50 day simple moving average of $47.16 and a 200 day simple moving average of $44.33. SP Funds S&P Global Technology ETF has a one year low of $32.74 and a one year high of $50.75.

SP Funds S&P Global Technology ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Monday, July 27th were paid a dividend of $0.0065 per share. This represents a $0.08 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, July 27th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Cetera Investment Advisers purchased a new position in shares of SP Funds S&P Global Technology ETF in the first quarter worth $768,000. RFG Advisory LLC purchased a new stake in shares of SP Funds S&P Global Technology ETF during the first quarter valued at $574,000. World Equity Group Inc. bought a new stake in SP Funds S&P Global Technology ETF in the 2nd quarter worth about $232,000. TD Waterhouse Canada Inc. increased its holdings in SP Funds S&P Global Technology ETF by 7.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 58,724 shares of the company’s stock worth $2,778,000 after buying an additional 4,211 shares in the last quarter. Finally, IFP Advisors Inc raised its position in SP Funds S&P Global Technology ETF by 182.1% in the 2nd quarter. IFP Advisors Inc now owns 1,845 shares of the company’s stock worth $90,000 after buying an additional 1,191 shares during the last quarter.

SP Funds S&P Global Technology ETF Company Profile

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.