Short Interest in SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) Decreases By 44.1%

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 36,285 shares, a decrease of 44.1% from the July 15th total of 64,882 shares. Based on an average daily trading volume, of 36,800 shares, the short-interest ratio is currently 1.0 days. Approximately 0.8% of the company’s shares are short sold.

SP Funds S&P Global Technology ETF Trading Up 0.5%

Shares of NYSEARCA:SPTE traded up $0.24 on Monday, reaching $48.60. 38,314 shares of the company traded hands, compared to its average volume of 49,511. The stock has a market capitalization of $229.39 million, a P/E ratio of 34.36 and a beta of 1.59. The business’s 50-day simple moving average is $46.81 and its 200 day simple moving average is $42.11. SP Funds S&P Global Technology ETF has a 52 week low of $30.97 and a 52 week high of $50.75.

Hedge Funds Weigh In On SP Funds S&P Global Technology ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. World Equity Group Inc. bought a new stake in SP Funds S&P Global Technology ETF in the second quarter valued at approximately $232,000. Cetera Investment Advisers bought a new position in shares of SP Funds S&P Global Technology ETF in the first quarter worth approximately $768,000. Merkkuri Wealth Advisors LLC bought a new position in shares of SP Funds S&P Global Technology ETF in the first quarter worth approximately $25,000. RFG Advisory LLC purchased a new position in shares of SP Funds S&P Global Technology ETF in the first quarter worth $574,000. Finally, Mariner LLC purchased a new position in shares of SP Funds S&P Global Technology ETF in the fourth quarter worth $292,000.

About SP Funds S&P Global Technology ETF

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.