Global X Defense Tech ETF (NYSEARCA:SHLD) Shares Shorted: Short Interest Down 74.4% in October

Global X Defense Tech ETF (NYSEARCA:SHLD) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 227,867 shares, a decline of 74.4% from the September 30th total of 888,747 shares. Based on an average daily volume of 1,077,795 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Global X Defense Tech ETF Stock Up 2.7%

Shares of SHLD traded up $1.70 on Thursday, hitting $64.99. The company’s stock had a trading volume of 852,532 shares, compared to its average volume of 1,707,236. The firm’s fifty day moving average price is $62.42 and its 200-day moving average price is $67.44. Global X Defense Tech ETF has a fifty-two week low of $57.89 and a fifty-two week high of $78.49. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -5.37 and a beta of 0.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Trek Financial LLC boosted its stake in Global X Defense Tech ETF by 27.7% in the 3rd quarter. Trek Financial LLC now owns 67,627 shares of the company’s stock worth $4,063,000 after purchasing an additional 14,662 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Global X Defense Tech ETF in the 3rd quarter valued at about $492,000. Vise Technologies Inc. lifted its holdings in shares of Global X Defense Tech ETF by 30.3% in the third quarter. Vise Technologies Inc. now owns 385,124 shares of the company’s stock valued at $23,138,000 after purchasing an additional 89,600 shares in the last quarter. Investment Partners LTD. bought a new stake in shares of Global X Defense Tech ETF in the third quarter valued at about $552,000. Finally, MGO One Seven LLC lifted its holdings in shares of Global X Defense Tech ETF by 1.0% in the third quarter. MGO One Seven LLC now owns 230,236 shares of the company’s stock valued at $13,833,000 after purchasing an additional 2,390 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.