Short Interest in Global X Defense Tech ETF (NYSEARCA:SHLD) Expands By 614.0%

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

Hedge Funds Weigh In On Global X Defense Tech ETF

A number of hedge funds have recently added to or reduced their stakes in SHLD. Financial Life Planners acquired a new position in Global X Defense Tech ETF in the first quarter worth approximately $26,000. Evolution Wealth Management Inc. increased its stake in shares of Global X Defense Tech ETF by 57.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 793 shares of the company’s stock worth $56,000 after purchasing an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Global X Defense Tech ETF by 12.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $119,000 after purchasing an additional 181 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Global X Defense Tech ETF by 75.8% during the 1st quarter. International Assets Investment Management LLC now owns 1,695 shares of the company’s stock worth $125,000 after purchasing an additional 731 shares during the last quarter. Finally, Main Street Group LTD acquired a new position in shares of Global X Defense Tech ETF during the 1st quarter worth $126,000. Institutional investors and hedge funds own 57.57% of the company’s stock.

Global X Defense Tech ETF Price Performance

SHLD traded up $2.79 on Thursday, reaching $65.15. 2,237,688 shares of the company traded hands, compared to its average volume of 2,100,735. The stock’s 50 day moving average price is $68.06 and its 200-day moving average price is $70.02. Global X Defense Tech ETF has a 52-week low of $57.14 and a 52-week high of $78.49. The company has a market cap of $7.73 billion, a price-to-earnings ratio of -5.38 and a beta of 0.20.

About Global X Defense Tech ETF

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.