Global X Defense Tech ETF (NYSEARCA:SHLD) Sets New 12-Month Low – Here’s What Happened

Global X Defense Tech ETF (NYSEARCA:SHLD) shares hit a new 52-week low on Friday. The company traded as low as $57.14 and last traded at $58.0040, with a volume of 214,363 shares trading hands. The stock had previously closed at $58.03.

Global X Defense Tech ETF Stock Up 0.3%

The firm has a market capitalization of $6.00 billion, a P/E ratio of -4.81 and a beta of 0.30. The firm’s 50-day simple moving average is $61.97 and its 200-day simple moving average is $67.06.

Institutional Trading of Global X Defense Tech ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in Global X Defense Tech ETF in the second quarter valued at $4,910,000. Solstein Capital LLC raised its position in Global X Defense Tech ETF by 34.5% during the second quarter. Solstein Capital LLC now owns 44,211 shares of the company’s stock valued at $2,640,000 after purchasing an additional 11,352 shares in the last quarter. Buttonwood Financial Group LLC raised its position in Global X Defense Tech ETF by 25.2% during the second quarter. Buttonwood Financial Group LLC now owns 103,100 shares of the company’s stock valued at $6,156,000 after purchasing an additional 20,768 shares in the last quarter. Waverly Advisors LLC raised its position in Global X Defense Tech ETF by 1,589.5% during the second quarter. Waverly Advisors LLC now owns 75,519 shares of the company’s stock valued at $4,509,000 after purchasing an additional 71,049 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Global X Defense Tech ETF during the second quarter worth about $3,583,000. Hedge funds and other institutional investors own 57.57% of the company’s stock.

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.