Contango Wealth Management LLC Makes New Investment in Global X Defense Tech ETF $SHLD

Contango Wealth Management LLC acquired a new stake in shares of Global X Defense Tech ETF (NYSEARCA:SHLD) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 11,621 shares of the company’s stock, valued at approximately $823,000. Global X Defense Tech ETF makes up 1.0% of Contango Wealth Management LLC’s holdings, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chatterton & Associates Inc. grew its position in Global X Defense Tech ETF by 121.0% during the first quarter. Chatterton & Associates Inc. now owns 20,999 shares of the company’s stock valued at $1,559,000 after acquiring an additional 11,499 shares during the period. Kestra Private Wealth Services LLC increased its stake in Global X Defense Tech ETF by 20.3% during the first quarter. Kestra Private Wealth Services LLC now owns 74,424 shares of the company’s stock worth $5,272,000 after acquiring an additional 12,537 shares during the last quarter. Valley Wealth Managers Inc. raised its holdings in shares of Global X Defense Tech ETF by 16.6% in the 1st quarter. Valley Wealth Managers Inc. now owns 193,621 shares of the company’s stock worth $13,716,000 after purchasing an additional 27,529 shares during the period. EWA LLC lifted its stake in shares of Global X Defense Tech ETF by 66.8% in the 1st quarter. EWA LLC now owns 129,631 shares of the company’s stock valued at $9,183,000 after purchasing an additional 51,899 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Global X Defense Tech ETF by 230.5% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 24,608 shares of the company’s stock valued at $1,743,000 after purchasing an additional 17,163 shares in the last quarter. 57.57% of the stock is currently owned by institutional investors and hedge funds.

Global X Defense Tech ETF Stock Performance

Shares of NYSEARCA:SHLD opened at $63.25 on Monday. The stock has a 50-day simple moving average of $62.56 and a 200-day simple moving average of $69.08. The stock has a market capitalization of $7.05 billion, a P/E ratio of -5.22 and a beta of 0.29. Global X Defense Tech ETF has a 1 year low of $57.89 and a 1 year high of $78.49.

Global X Defense Tech ETF Profile

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.