Global X Defense Tech ETF (NYSEARCA:SHLD) Hits New 1-Year Low – Here’s What Happened

Global X Defense Tech ETF (NYSEARCA:SHLD) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $57.89 and last traded at $58.45, with a volume of 109916 shares changing hands. The stock had previously closed at $58.20.

Global X Defense Tech ETF Stock Up 0.8%

The company has a market capitalization of $6.96 billion, a P/E ratio of -4.84 and a beta of 0.20. The business has a fifty day moving average price of $65.48 and a 200 day moving average price of $70.03.

Hedge Funds Weigh In On Global X Defense Tech ETF

A number of large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its stake in shares of Global X Defense Tech ETF by 19.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 77,000 shares of the company’s stock worth $4,989,000 after acquiring an additional 12,702 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Global X Defense Tech ETF by 14.4% during the first quarter. Nations Financial Group Inc. IA ADV now owns 10,144 shares of the company’s stock worth $719,000 after purchasing an additional 1,280 shares during the last quarter. Fortem Financial Group LLC grew its position in Global X Defense Tech ETF by 1,664.5% in the first quarter. Fortem Financial Group LLC now owns 75,873 shares of the company’s stock valued at $5,375,000 after purchasing an additional 71,573 shares in the last quarter. Triad Wealth Partners LLC grew its position in Global X Defense Tech ETF by 112.9% in the first quarter. Triad Wealth Partners LLC now owns 214,036 shares of the company’s stock valued at $15,162,000 after purchasing an additional 113,480 shares in the last quarter. Finally, Terra Nova Asset Management LLC grew its position in Global X Defense Tech ETF by 3.3% in the first quarter. Terra Nova Asset Management LLC now owns 24,589 shares of the company’s stock valued at $1,742,000 after purchasing an additional 783 shares in the last quarter. Institutional investors and hedge funds own 57.57% of the company’s stock.

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.