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

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 47,097 shares, a decline of 41.1% from the May 14th total of 79,941 shares. Based on an average daily volume of 39,673 shares, the short-interest ratio is presently 1.2 days. Approximately 1.4% of the shares of the stock are short sold.

SP Funds S&P Global Technology ETF Stock Down 3.1%

Shares of NYSEARCA SPTE traded down $1.54 during midday trading on Tuesday, reaching $47.60. The company had a trading volume of 52,504 shares, compared to its average volume of 44,328. SP Funds S&P Global Technology ETF has a one year low of $29.12 and a one year high of $50.75. The firm’s fifty day moving average price is $43.56 and its 200-day moving average price is $38.69. The stock has a market cap of $161.84 million, a PE ratio of 34.36 and a beta of 1.57.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Merkkuri Wealth Advisors LLC purchased a new position in shares of SP Funds S&P Global Technology ETF during the 1st quarter worth approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of SP Funds S&P Global Technology ETF during the 3rd quarter worth approximately $28,000. Bank of America Corp DE purchased a new position in shares of SP Funds S&P Global Technology ETF during the 2nd quarter worth approximately $50,000. Strengthening Families & Communities LLC grew its holdings in shares of SP Funds S&P Global Technology ETF by 319.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 4,211 shares of the company’s stock worth $148,000 after acquiring an additional 3,206 shares during the period. Finally, CWM LLC grew its holdings in shares of SP Funds S&P Global Technology ETF by 47.9% during the 4th quarter. CWM LLC now owns 4,266 shares of the company’s stock worth $150,000 after acquiring an additional 1,381 shares during the period.

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.