SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) Shares Shorted: Short Interest Up 210.4% in October

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 61,893 shares, an increase of 210.4% from the September 30th total of 19,938 shares. Based on an average daily trading volume, of 60,257 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.1% of the shares of the company are sold short.

SP Funds S&P Global Technology ETF Price Performance

NYSEARCA:SPTE traded down $2.69 during trading hours on Friday, reaching $45.16. 102,616 shares of the company were exchanged, compared to its average volume of 49,273. SP Funds S&P Global Technology ETF has a 1-year low of $32.74 and a 1-year high of $52.38. The business has a 50 day moving average of $48.42 and a 200 day moving average of $43.47. The company has a market capitalization of $245.19 million, a P/E ratio of 34.36 and a beta of 1.57.

SP Funds S&P Global Technology ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 27th were paid a $0.0065 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, October 27th.

Institutional Investors Weigh In On SP Funds S&P Global Technology ETF

Several institutional investors and hedge funds have recently made changes to their positions in SPTE. Strengthening Families & Communities LLC grew its holdings in SP Funds S&P Global Technology ETF by 8.9% in the second quarter. Strengthening Families & Communities LLC now owns 7,423 shares of the company’s stock worth $362,000 after purchasing an additional 609 shares during the period. IFP Advisors Inc raised its position in shares of SP Funds S&P Global Technology ETF by 182.1% during the second quarter. IFP Advisors Inc now owns 1,845 shares of the company’s stock worth $90,000 after purchasing an additional 1,191 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in SP Funds S&P Global Technology ETF by 15.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,785 shares of the company’s stock valued at $689,000 after purchasing an additional 1,855 shares during the period. Farther Finance Advisors LLC raised its holdings in SP Funds S&P Global Technology ETF by 9.7% during the third quarter. Farther Finance Advisors LLC now owns 23,034 shares of the company’s stock worth $1,152,000 after buying an additional 2,033 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of SP Funds S&P Global Technology ETF by 7.7% in the second quarter. TD Waterhouse Canada Inc. now owns 58,724 shares of the company’s stock valued at $2,778,000 after buying an additional 4,211 shares in the last quarter.

SP Funds S&P Global Technology ETF Company Profile

The SP Funds S&P Global Technology ETF (SPTE) is an exchange-traded fund that mostly invests in information technology equity. The fund is a passively managed fund, investing in global technology firms adhering to Shariah investment principles. Stocks selected for the portfolio are weighted based on market-cap SPTE was launched on Nov 30, 2023 and is issued by SP Funds.