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

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 48,890 shares, a growth of 135.9% from the August 31st total of 20,726 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 57,031 shares, the days-to-cover ratio is currently 0.9 days.

SP Funds S&P Global Technology ETF Stock Up 1.3%

SPTE traded up $0.65 during trading on Friday, hitting $50.20. 26,474 shares of the company traded hands, compared to its average volume of 48,975. SP Funds S&P Global Technology ETF has a one year low of $32.74 and a one year high of $50.75. The stock’s fifty day moving average is $47.16 and its 200 day moving average is $44.33. The firm has a market cap of $261.04 million, a P/E ratio of 34.36 and a beta of 1.60.

SP Funds S&P Global Technology ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, July 27th were issued a $0.0065 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 27th.

Hedge Funds Weigh In On SP Funds S&P Global Technology ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Merkkuri Wealth Advisors LLC purchased a new stake in SP Funds S&P Global Technology ETF in the first quarter worth approximately $25,000. IFP Advisors Inc raised its stake in shares of SP Funds S&P Global Technology ETF by 182.1% during the second 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 during the last quarter. World Equity Group Inc. bought a new stake in shares of SP Funds S&P Global Technology ETF in the 2nd quarter worth approximately $232,000. Strengthening Families & Communities LLC increased its position in SP Funds S&P Global Technology ETF by 8.9% during the 2nd quarter. Strengthening Families & Communities LLC now owns 7,423 shares of the company’s stock valued at $362,000 after purchasing an additional 609 shares during the period. Finally, RFG Advisory LLC purchased a new position in shares of SP Funds S&P Global Technology ETF during the first quarter valued at about $574,000.

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.