Global X Defense Tech ETF (NYSEARCA:SHLD) Short Interest Update

Global X Defense Tech ETF (NYSEARCA:SHLD) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 2,005,428 shares, a growth of 614.0% from the May 14th total of 280,877 shares. Based on an average daily trading volume, of 2,426,511 shares, the short-interest ratio is currently 0.8 days. Approximately 1.7% of the company’s shares are sold short.

Global X Defense Tech ETF Trading Down 1.8%

NYSEARCA:SHLD traded down $1.19 on Friday, reaching $63.96. 574,815 shares of the stock traded hands, compared to its average volume of 2,086,688. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of -5.28 and a beta of 0.20. The company’s 50 day moving average is $67.95 and its 200-day moving average is $70.05. Global X Defense Tech ETF has a 1-year low of $57.14 and a 1-year high of $78.49.

Hedge Funds Weigh In On Global X Defense Tech ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Life Planners acquired a new position in Global X Defense Tech ETF during the 1st quarter worth approximately $26,000. Evolution Wealth Management Inc. raised its stake in Global X Defense Tech ETF by 57.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 793 shares of the company’s stock worth $56,000 after buying an additional 288 shares during the period. EverSource Wealth Advisors LLC raised its stake in Global X Defense Tech ETF by 12.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $119,000 after buying an additional 181 shares during the period. International Assets Investment Management LLC raised its stake in Global X Defense Tech ETF by 75.8% during the 1st quarter. International Assets Investment Management LLC now owns 1,695 shares of the company’s stock worth $125,000 after buying an additional 731 shares during the period. Finally, Main Street Group LTD acquired a new position in Global X Defense Tech ETF during the 1st quarter worth approximately $126,000. Institutional investors and hedge funds own 57.57% of the company’s stock.

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.