Redwood Investment Management LLC Raises Stock Holdings in Global X Defense Tech ETF $SHLD

Redwood Investment Management LLC grew its position in Global X Defense Tech ETF (NYSEARCA:SHLD) by 66.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,327 shares of the company’s stock after acquiring an additional 8,514 shares during the quarter. Redwood Investment Management LLC’s holdings in Global X Defense Tech ETF were worth $1,511,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new stake in Global X Defense Tech ETF in the 1st quarter valued at $26,000. Evolution Wealth Management Inc. grew its position in Global X Defense Tech ETF by 57.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 793 shares of the company’s stock worth $56,000 after purchasing an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Global X Defense Tech ETF by 12.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $119,000 after purchasing an additional 181 shares during the last quarter. International Assets Investment Management LLC increased its stake in Global X Defense Tech ETF by 75.8% in the first quarter. International Assets Investment Management LLC now owns 1,695 shares of the company’s stock valued at $125,000 after purchasing an additional 731 shares during the period. Finally, Main Street Group LTD acquired a new position in Global X Defense Tech ETF in the first quarter valued at $126,000. 57.57% of the stock is currently owned by hedge funds and other institutional investors.

Global X Defense Tech ETF Stock Performance

Shares of NYSEARCA:SHLD opened at $63.25 on Monday. Global X Defense Tech ETF has a one year low of $57.89 and a one year high of $78.49. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of -5.22 and a beta of 0.29. The company has a 50-day simple moving average of $62.56 and a 200-day simple moving average of $69.08.

Global X Defense Tech ETF 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.