Global X U.S. Electrification ETF (NASDAQ:ZAP) Sees Large Increase in Short Interest

Global X U.S. Electrification ETF (NASDAQ:ZAP) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 223,022 shares, an increase of 143.9% from the September 30th total of 91,430 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 143,395 shares, the short-interest ratio is currently 1.6 days.

Hedge Funds Weigh In On Global X U.S. Electrification ETF

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new position in shares of Global X U.S. Electrification ETF in the 1st quarter valued at about $73,000. Onyx Bridge Wealth Group LLC boosted its position in Global X U.S. Electrification ETF by 10.1% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 7,449 shares of the company’s stock valued at $227,000 after buying an additional 682 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Global X U.S. Electrification ETF by 10.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 8,200 shares of the company’s stock worth $250,000 after acquiring an additional 749 shares in the last quarter. Carlson Financial Inc. purchased a new position in Global X U.S. Electrification ETF in the second quarter valued at about $341,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Global X U.S. Electrification ETF in the first quarter worth $330,000.

Global X U.S. Electrification ETF Stock Performance

Global X U.S. Electrification ETF stock opened at $31.75 on Friday. Global X U.S. Electrification ETF has a 1 year low of $28.89 and a 1 year high of $35.39. The stock has a market capitalization of $452.12 million, a P/E ratio of -317.50 and a beta of 0.55. The company’s fifty day moving average price is $31.28 and its 200 day moving average price is $32.45.

Global X U.S. Electrification ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Monday, October 5th were paid a $0.15 dividend. This is a decrease from Global X U.S. Electrification ETF’s previous quarterly dividend of $0.1684. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 5th. Global X U.S. Electrification ETF’s dividend payout ratio (DPR) is presently -590.00%.

About Global X U.S. Electrification ETF

The Global X U.S. Electrification ETF (ZAP) is an exchange-traded fund that is based on the Global X US Electrification index. The fund tracks market-cap selected and weighted index of US listed companies in developed markets involved in the industry of electrification. This includes companies involved in conventional and alternative electricity, and smart grid technologies. ZAP was launched on Dec 17, 2024 and is issued by Global X.