Global X U.S. Electrification ETF (NASDAQ:ZAP) Stock Short Interest Climbs 143.9%

Global X U.S. Electrification ETF (NASDAQ:ZAP) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 223,022 shares, an increase of 143.9% from the September 30th total of 91,430 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 143,395 shares, the days-to-cover ratio is currently 1.6 days.

Global X U.S. Electrification ETF Price Performance

NASDAQ ZAP opened at $31.75 on Friday. The company has a market capitalization of $452.12 million, a P/E ratio of -317.50 and a beta of 0.55. The company’s 50 day simple moving average is $31.28 and its 200 day simple moving average is $32.45. Global X U.S. Electrification ETF has a 12 month low of $28.89 and a 12 month high of $35.39.

Global X U.S. Electrification ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, October 5th were given a dividend of $0.15 per share. This is a negative change from Global X U.S. Electrification ETF’s previous quarterly dividend of $0.1684. The ex-dividend date was Monday, October 5th. This represents a $0.60 annualized dividend and a yield of 1.9%. Global X U.S. Electrification ETF’s dividend payout ratio is currently -590.00%.

Institutional Investors Weigh In On Global X U.S. Electrification ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in ZAP. Bank of America Corp DE lifted its position in shares of Global X U.S. Electrification ETF by 34.2% during the 1st quarter. Bank of America Corp DE now owns 1,228,100 shares of the company’s stock worth $39,496,000 after buying an additional 312,881 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Global X U.S. Electrification ETF during the 3rd quarter worth $6,090,000. Sterling Manor Financial LLC bought a new position in Global X U.S. Electrification ETF during the third quarter valued at approximately $4,755,000. Flynn Zito Capital Management LLC purchased a new position in Global X U.S. Electrification ETF in the 1st quarter worth approximately $4,766,000. Finally, Cetera Investment Advisers grew its stake in shares of Global X U.S. Electrification ETF by 409.2% in the first quarter. Cetera Investment Advisers now owns 88,221 shares of the company’s stock worth $2,837,000 after purchasing an additional 70,897 shares during the last quarter.

About Global X U.S. Electrification ETF

The Global X U.S. Electrification ETF (ZAP) is an exchange-traded fund that is based on the Global X US Electrification index. The fund tracks market-cap selected and weighted index of US listed companies in developed markets involved in the industry of electrification. This includes companies involved in conventional and alternative electricity, and smart grid technologies. ZAP was launched on Dec 17, 2024 and is issued by Global X.