SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) Sees Large Increase in Short Interest

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 20,726 shares, a growth of 260.4% from the August 15th total of 5,751 shares. Based on an average daily trading volume, of 41,632 shares, the short-interest ratio is currently 0.5 days. Approximately 0.4% of the company’s shares are sold short.

SP Funds S&P Global Technology ETF Trading Down 2.3%

SPTE stock traded down $1.10 during midday trading on Monday, hitting $46.84. The stock had a trading volume of 17,155 shares, compared to its average volume of 48,149. The firm has a market cap of $221.09 million, a P/E ratio of 34.36 and a beta of 1.60. The business has a fifty day moving average price of $46.77 and a two-hundred day moving average price of $43.57. SP Funds S&P Global Technology ETF has a 1-year low of $32.74 and a 1-year high of $50.75.

SP Funds S&P Global Technology ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, July 27th were paid a $0.0065 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 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. Merkkuri Wealth Advisors LLC bought a new stake in SP Funds S&P Global Technology ETF in the first quarter worth approximately $25,000. Sunbelt Securities Inc. acquired a new stake in shares of SP Funds S&P Global Technology ETF during the 3rd quarter worth approximately $28,000. Bank of America Corp DE bought a new stake in shares of SP Funds S&P Global Technology ETF in the 2nd quarter valued at $50,000. IFP Advisors Inc increased its stake in shares of SP Funds S&P Global Technology ETF by 182.1% in the 2nd quarter. IFP Advisors Inc now owns 1,845 shares of the company’s stock valued at $90,000 after acquiring an additional 1,191 shares in the last quarter. Finally, World Equity Group Inc. acquired a new position in shares of SP Funds S&P Global Technology ETF during the 2nd quarter valued at $232,000.

About SP Funds S&P Global Technology ETF

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.