Global X Defense Tech ETF (NYSEARCA:SHLD) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Global X Defense Tech ETF (NYSEARCA:SHLD) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $62.77 and traded as high as $63.40. Global X Defense Tech ETF shares last traded at $63.35, with a volume of 1,573,786 shares.

Global X Defense Tech ETF Stock Performance

The stock has a 50 day moving average price of $62.77 and a two-hundred day moving average price of $67.57. The company has a market capitalization of $6.60 billion, a PE ratio of -5.23 and a beta of 0.33.

Hedge Funds Weigh In On Global X Defense Tech ETF

Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in Global X Defense Tech ETF in the third quarter worth approximately $1,881,000. Park Avenue Securities LLC acquired a new position in shares of Global X Defense Tech ETF during the 3rd quarter worth $15,530,000. Kingswood Wealth Advisors LLC raised its holdings in shares of Global X Defense Tech ETF by 9.3% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 4,592 shares of the company’s stock valued at $276,000 after purchasing an additional 392 shares in the last quarter. Centerpoint Advisory Group raised its holdings in shares of Global X Defense Tech ETF by 74.7% during the 3rd quarter. Centerpoint Advisory Group now owns 10,233 shares of the company’s stock valued at $615,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Beacon Capital Management LLC raised its holdings in shares of Global X Defense Tech ETF by 14.4% during the 3rd quarter. Beacon Capital Management LLC now owns 98,714 shares of the company’s stock valued at $5,931,000 after purchasing an additional 12,410 shares in the last quarter. Institutional investors and hedge funds own 57.57% of the company’s stock.

Global X Defense Tech ETF Company Profile

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.