Global X Defense Tech ETF (NYSEARCA:SHLD) Trading 2.1% Higher – Still a Buy?

Global X Defense Tech ETF (NYSEARCA:SHLD) shares traded up 2.1% on Monday . The stock traded as high as $63.69 and last traded at $63.65. 1,630,618 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 2,094,928 shares. The stock had previously closed at $62.34.

Global X Defense Tech ETF Stock Performance

The firm has a market cap of $7.55 billion, a P/E ratio of -5.26 and a beta of 0.24. The firm’s fifty day moving average is $71.39 and its 200 day moving average is $70.16.

Institutional Investors Weigh In On Global X Defense Tech ETF

A number of institutional investors have recently made changes to their positions in SHLD. Rockefeller Capital Management L.P. grew its position in shares of Global X Defense Tech ETF by 19.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 77,000 shares of the company’s stock valued at $4,989,000 after purchasing an additional 12,702 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in Global X Defense Tech ETF by 14.4% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,144 shares of the company’s stock worth $719,000 after buying an additional 1,280 shares during the period. Fortem Financial Group LLC increased its position in Global X Defense Tech ETF by 1,664.5% during the 1st quarter. Fortem Financial Group LLC now owns 75,873 shares of the company’s stock worth $5,375,000 after buying an additional 71,573 shares during the period. Triad Wealth Partners LLC lifted its holdings in shares of Global X Defense Tech ETF by 112.9% during the first quarter. Triad Wealth Partners LLC now owns 214,036 shares of the company’s stock worth $15,162,000 after buying an additional 113,480 shares in the last quarter. Finally, Terra Nova Asset Management LLC boosted its position in shares of Global X Defense Tech ETF by 3.3% in the first quarter. Terra Nova Asset Management LLC now owns 24,589 shares of the company’s stock valued at $1,742,000 after acquiring an additional 783 shares during the period. Institutional investors own 57.57% of the company’s stock.

About Global X Defense Tech ETF

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.