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

Global X Defense Tech ETF (NYSEARCA:SHLD) was the recipient of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 2,005,428 shares, an increase of 614.0% from the May 14th total of 280,877 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 2,426,511 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Global X Defense Tech ETF

A number of institutional investors have recently bought and sold shares of SHLD. Harel Insurance Investments & Financial Services Ltd. increased its stake in Global X Defense Tech ETF by 151.1% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,645,365 shares of the company’s stock worth $329,078,000 after purchasing an additional 2,795,100 shares in the last quarter. Bank of America Corp DE increased its stake in Global X Defense Tech ETF by 30.9% in the 1st quarter. Bank of America Corp DE now owns 9,575,995 shares of the company’s stock worth $678,363,000 after purchasing an additional 2,262,272 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in Global X Defense Tech ETF in the 1st quarter worth about $120,428,000. Royal Bank of Canada increased its stake in Global X Defense Tech ETF by 49.9% in the 1st quarter. Royal Bank of Canada now owns 817,433 shares of the company’s stock worth $57,907,000 after purchasing an additional 271,959 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in Global X Defense Tech ETF by 41.1% in the 1st quarter. Sanctuary Advisors LLC now owns 770,947 shares of the company’s stock worth $54,614,000 after purchasing an additional 224,582 shares in the last quarter. Hedge funds and other institutional investors own 57.57% of the company’s stock.

Global X Defense Tech ETF Stock Performance

SHLD traded down $0.75 during trading on Wednesday, reaching $62.36. The company had a trading volume of 1,196,990 shares, compared to its average volume of 2,099,460. The firm’s 50-day simple moving average is $68.18 and its 200 day simple moving average is $70.02. The company has a market cap of $7.40 billion, a price-to-earnings ratio of -5.15 and a beta of 0.20. Global X Defense Tech ETF has a 12-month low of $56.00 and a 12-month high of $78.49.

Global X Defense Tech ETF Company Profile

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.