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

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 36,285 shares, a drop of 44.1% from the July 15th total of 64,882 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 36,800 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On SP Funds S&P Global Technology ETF

Large investors have recently modified their holdings of the stock. RFG Advisory LLC acquired a new position in shares of SP Funds S&P Global Technology ETF in the first quarter worth about $574,000. Cetera Investment Advisers purchased a new stake in SP Funds S&P Global Technology ETF in the 1st quarter worth about $768,000. Strengthening Families & Communities LLC grew its stake in SP Funds S&P Global Technology ETF by 319.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 4,211 shares of the company’s stock valued at $148,000 after acquiring an additional 3,206 shares in the last quarter. CWM LLC boosted its holdings in shares of SP Funds S&P Global Technology ETF by 47.9% during the fourth quarter. CWM LLC now owns 4,266 shares of the company’s stock worth $150,000 after purchasing an additional 1,381 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in SP Funds S&P Global Technology ETF by 80.6% in the 4th quarter. Farther Finance Advisors LLC now owns 12,948 shares of the company’s stock valued at $456,000 after buying an additional 5,777 shares during the period.

SP Funds S&P Global Technology ETF Stock Performance

Shares of SPTE stock opened at $47.01 on Wednesday. The stock has a market cap of $221.89 million, a PE ratio of 34.36 and a beta of 1.59. The business’s fifty day moving average is $46.83 and its 200-day moving average is $42.24. SP Funds S&P Global Technology ETF has a 1 year low of $30.97 and a 1 year high of $50.75.

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.