Global X Cybersecurity ETF (NASDAQ:BUG) Shares Up 7% – Here’s Why

Global X Cybersecurity ETF (NASDAQ:BUG) was up 7% during mid-day trading on Monday . The stock traded as high as $42.39 and last traded at $42.8590. Approximately 459,940 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,139,089 shares. The stock had previously closed at $40.04.

Global X Cybersecurity ETF Price Performance

The firm has a 50-day simple moving average of $40.80 and a 200 day simple moving average of $33.87. The company has a market capitalization of $1.81 billion, a PE ratio of 37.03 and a beta of 0.88.

Hedge Funds Weigh In On Global X Cybersecurity ETF

Several hedge funds and other institutional investors have recently bought and sold shares of BUG. IMC Chicago LLC purchased a new stake in Global X Cybersecurity ETF during the 1st quarter worth $1,891,000. Cassady Wealth & Retirement Planning LLC boosted its position in Global X Cybersecurity ETF by 48.6% in the 1st quarter. Cassady Wealth & Retirement Planning LLC now owns 70,157 shares of the company’s stock valued at $1,863,000 after buying an additional 22,943 shares during the last quarter. First Interstate Bank purchased a new position in Global X Cybersecurity ETF in the 1st quarter valued at about $3,838,000. World Investment Advisors purchased a new position in Global X Cybersecurity ETF in the 1st quarter valued at about $427,000. Finally, Hamilton Wealth LLC acquired a new stake in shares of Global X Cybersecurity ETF during the first quarter valued at about $744,000.

About Global X Cybersecurity ETF

The Global X Cybersecurity ETF (BUG) is an exchange-traded fund that is based on the Indxx Cybersecurity index, a modified market-cap-weighted global index of companies selected on the basis of revenue related to cybersecurity activities. BUG was launched on Oct 25, 2019 and is managed by Global X.