Short Interest in SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) Drops By 84.2%

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 5,751 shares, a decrease of 84.2% from the July 30th total of 36,285 shares. Based on an average daily volume of 68,433 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On SP Funds S&P Global Technology ETF

A number of institutional investors and hedge funds have recently modified their holdings of the business. Merkkuri Wealth Advisors LLC bought a new stake in shares of SP Funds S&P Global Technology ETF during the first quarter worth $25,000. Sunbelt Securities Inc. bought a new stake in SP Funds S&P Global Technology ETF during the 3rd quarter valued at about $28,000. Bank of America Corp DE bought a new stake in SP Funds S&P Global Technology ETF during the 2nd quarter valued at about $50,000. Strengthening Families & Communities LLC grew its stake in SP Funds S&P Global Technology ETF by 319.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 4,211 shares of the company’s stock worth $148,000 after acquiring an additional 3,206 shares in the last quarter. Finally, CWM LLC increased its position in shares of SP Funds S&P Global Technology ETF by 47.9% during the fourth quarter. CWM LLC now owns 4,266 shares of the company’s stock worth $150,000 after acquiring an additional 1,381 shares during the period.

SP Funds S&P Global Technology ETF Stock Performance

NYSEARCA SPTE traded up $0.24 during trading on Wednesday, hitting $46.82. The stock had a trading volume of 20,635 shares, compared to its average volume of 49,180. SP Funds S&P Global Technology ETF has a one year low of $30.97 and a one year high of $50.75. The stock has a 50 day simple moving average of $46.75 and a 200 day simple moving average of $42.59. The stock has a market capitalization of $220.99 million, a price-to-earnings ratio of 34.36 and a beta of 1.59.

SP Funds S&P Global Technology ETF Company Profile

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.