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

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 47,097 shares, a drop of 41.1% from the May 14th total of 79,941 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average trading volume of 39,673 shares, the short-interest ratio is presently 1.2 days.

Institutional Trading of SP Funds S&P Global Technology ETF

Large investors have recently made changes to their positions in the stock. Merkkuri Wealth Advisors LLC acquired a new stake in shares of SP Funds S&P Global Technology ETF during the first quarter valued at $25,000. Sunbelt Securities Inc. acquired a new stake in shares of SP Funds S&P Global Technology ETF during the third quarter valued at $28,000. Bank of America Corp DE purchased a new position in SP Funds S&P Global Technology ETF during the second quarter worth about $50,000. Strengthening Families & Communities LLC lifted its position in SP Funds S&P Global Technology ETF by 319.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 4,211 shares of the company’s stock worth $148,000 after buying an additional 3,206 shares during the period. Finally, CWM LLC lifted its position in 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 buying an additional 1,381 shares during the period.

SP Funds S&P Global Technology ETF Stock Up 3.9%

Shares of SPTE traded up $1.84 during trading hours on Monday, reaching $49.14. 67,590 shares of the company traded hands, compared to its average volume of 44,255. The stock has a market capitalization of $167.08 million, a PE ratio of 34.36 and a beta of 1.57. SP Funds S&P Global Technology ETF has a fifty-two week low of $29.12 and a fifty-two week high of $50.75. The stock has a fifty day simple moving average of $43.56 and a 200 day simple moving average of $38.69.

SP Funds S&P Global Technology ETF Company Profile

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.