Global X Cybersecurity ETF (NASDAQ:BUG) Sees Significant Increase in Short Interest

Global X Cybersecurity ETF (NASDAQ:BUG) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 650,800 shares, an increase of 146.4% from the March 15th total of 264,100 shares. Based on an average daily volume of 287,600 shares, the short-interest ratio is presently 2.3 days. Approximately 2.4% of the company’s shares are sold short.

Global X Cybersecurity ETF Price Performance

BUG stock traded up $0.37 during midday trading on Tuesday, hitting $32.91. The stock had a trading volume of 306,610 shares, compared to its average volume of 194,227. The business has a 50-day moving average of $33.56 and a two-hundred day moving average of $32.92. The firm has a market cap of $892.85 million, a price-to-earnings ratio of 28.03 and a beta of 0.86. Global X Cybersecurity ETF has a 52-week low of $26.03 and a 52-week high of $36.81.

Hedge Funds Weigh In On Global X Cybersecurity ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in Global X Cybersecurity ETF by 213.1% during the third quarter. FMR LLC now owns 1,221 shares of the company’s stock valued at $38,000 after purchasing an additional 831 shares during the last quarter. Synovus Financial Corp purchased a new position in Global X Cybersecurity ETF during the 3rd quarter worth $223,000. Granite Bay Wealth Management LLC lifted its stake in Global X Cybersecurity ETF by 0.9% in the fourth quarter. Granite Bay Wealth Management LLC now owns 343,069 shares of the company’s stock worth $11,009,000 after acquiring an additional 3,070 shares during the period. Pinnacle Wealth Management Group Inc. lifted its holdings in Global X Cybersecurity ETF by 1.4% during the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 81,333 shares of the company’s stock worth $2,610,000 after buying an additional 1,090 shares during the period. Finally, Merit Financial Group LLC bought a new stake in shares of Global X Cybersecurity ETF in the 4th quarter valued at about $5,131,000.

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.