Global X Defense Tech ETF (NYSEARCA:SHLD) Trading Up 2.1% – Still a Buy?

Global X Defense Tech ETF (NYSEARCA:SHLD)’s stock price was up 2.1% on Monday . The stock traded as high as $63.69 and last traded at $63.65. Approximately 1,630,618 shares traded hands during trading, a decline of 22% from the average daily volume of 2,094,928 shares. The stock had previously closed at $62.34.

Global X Defense Tech ETF Stock Up 0.9%

The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of -5.33 and a beta of 0.24. The company’s 50 day moving average price is $70.86 and its 200 day moving average price is $70.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new stake in Global X Defense Tech ETF during the first quarter worth about $26,000. Evolution Wealth Management Inc. lifted its holdings in Global X Defense Tech ETF by 57.0% in the first quarter. Evolution Wealth Management Inc. now owns 793 shares of the company’s stock valued at $56,000 after acquiring an additional 288 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Global X Defense Tech ETF by 12.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $119,000 after acquiring an additional 181 shares during the period. International Assets Investment Management LLC boosted its position in Global X Defense Tech ETF by 75.8% in the 1st quarter. International Assets Investment Management LLC now owns 1,695 shares of the company’s stock worth $125,000 after purchasing an additional 731 shares in the last quarter. Finally, Main Street Group LTD acquired a new stake in shares of Global X Defense Tech ETF during the 1st quarter worth approximately $126,000. 57.57% of the stock is currently owned by institutional investors and hedge funds.

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.