Global X E-Commerce ETF (NASDAQ:EBIZ) Shares Down 1.3% – Here’s Why

Global X E-Commerce ETF (NASDAQ:EBIZ) was down 1.3% during mid-day trading on Friday. The company traded as low as $28.98 and last traded at $28.9810. 393 shares changed hands during trading, a decline of 93% from the average daily volume of 5,411 shares. The stock had previously closed at $29.37.

Global X E-Commerce ETF Stock Down 1.3%

The firm’s 50-day moving average price is $29.02 and its 200 day moving average price is $28.67. The company has a market capitalization of $25.79 million, a P/E ratio of 21.86 and a beta of 1.21.

Hedge Funds Weigh In On Global X E-Commerce ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its holdings in Global X E-Commerce ETF by 40.9% during the 1st quarter. Cetera Investment Advisers now owns 33,238 shares of the company’s stock worth $890,000 after purchasing an additional 9,643 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Global X E-Commerce ETF by 22.1% in the second quarter. Envestnet Asset Management Inc. now owns 34,472 shares of the company’s stock valued at $952,000 after purchasing an additional 6,228 shares in the last quarter. Finally, Vivaldi Capital Management LP lifted its holdings in shares of Global X E-Commerce ETF by 8.6% in the first quarter. Vivaldi Capital Management LP now owns 18,546 shares of the company’s stock valued at $496,000 after purchasing an additional 1,461 shares in the last quarter.

Global X E-Commerce ETF Company Profile

The Global X E-commerce ETF (EBIZ) is an exchange-traded fund that is based on the Solactive E-commerce index, a market-cap-weighted index of global e-commerce companies, including online retailers, retail platforms, and supporting businesses. EBIZ was launched on Nov 27, 2018 and is managed by Global X.