Global X U.S. Electrification ETF (NASDAQ:ZAP) Sees Significant Increase in Short Interest

Global X U.S. Electrification ETF (NASDAQ:ZAP) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 67,305 shares, a growth of 286.1% from the June 30th total of 17,431 shares. Based on an average trading volume of 105,309 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Global X U.S. Electrification ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new stake in shares of Global X U.S. Electrification ETF in the second quarter valued at about $34,000. Ameriflex Group Inc. acquired a new position in Global X U.S. Electrification ETF during the fourth quarter worth about $51,000. Fifth Third Bancorp purchased a new stake in Global X U.S. Electrification ETF during the 1st quarter valued at about $73,000. Osaic Holdings Inc. purchased a new stake in Global X U.S. Electrification ETF during the 2nd quarter valued at about $140,000. Finally, Raymond James Financial Inc. acquired a new stake in Global X U.S. Electrification ETF in the 2nd quarter valued at about $205,000.

Global X U.S. Electrification ETF Stock Performance

Shares of NASDAQ:ZAP traded down $0.39 during trading on Friday, reaching $33.56. The stock had a trading volume of 73,318 shares, compared to its average volume of 124,525. The business has a fifty day moving average price of $33.76 and a 200-day moving average price of $32.76. The stock has a market cap of $475.88 million, a PE ratio of -335.60 and a beta of 0.53. Global X U.S. Electrification ETF has a 1-year low of $27.32 and a 1-year high of $35.39.

Global X U.S. Electrification ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, July 6th were issued a $0.1684 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.67 dividend on an annualized basis and a yield of 2.0%. Global X U.S. Electrification ETF’s dividend payout ratio (DPR) is presently -540.00%.

Global X U.S. Electrification ETF Company Profile

The Global X U.S. Electrification ETF (ZAP) is an exchange-traded fund that is based on the Global X US Electrification index. The fund tracks market-cap selected and weighted index of US listed companies in developed markets involved in the industry of electrification. This includes companies involved in conventional and alternative electricity, and smart grid technologies. ZAP was launched on Dec 17, 2024 and is issued by Global X.