Short Interest in Global X Cybersecurity ETF (NASDAQ:BUG) Drops By 54.6%

Global X Cybersecurity ETF (NASDAQ:BUG) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 727,238 shares, a decrease of 54.6% from the July 15th total of 1,601,973 shares. Based on an average daily volume of 1,367,595 shares, the short-interest ratio is presently 0.5 days. Currently, 2.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BUG. Geneos Wealth Management Inc. bought a new position in shares of Global X Cybersecurity ETF in the 1st quarter worth $35,000. Parallel Advisors LLC boosted its position in Global X Cybersecurity ETF by 88.3% during the third quarter. Parallel Advisors LLC now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 469 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in Global X Cybersecurity ETF in the fourth quarter valued at about $39,000. Triumph Capital Management purchased a new position in Global X Cybersecurity ETF in the third quarter valued at about $44,000. Finally, Barclays PLC bought a new position in Global X Cybersecurity ETF in the fourth quarter worth about $46,000.

Global X Cybersecurity ETF Stock Down 3.1%

BUG stock traded down $1.37 during trading on Friday, hitting $43.09. 1,241,096 shares of the company’s stock traded hands, compared to its average volume of 1,130,335. The firm has a market capitalization of $1.51 billion, a P/E ratio of 37.03 and a beta of 0.88. The business has a fifty day simple moving average of $38.22 and a two-hundred day simple moving average of $31.65. Global X Cybersecurity ETF has a 1 year low of $23.15 and a 1 year high of $44.55.

Global X Cybersecurity ETF Company Profile

The Global X Cybersecurity ETF (BUG) is an exchange-traded fund that is based on the Indxx Cybersecurity index, a modified market-cap-weighted global index of companies selected on the basis of revenue related to cybersecurity activities. BUG was launched on Oct 25, 2019 and is managed by Global X.