Confluence Investment Management LLC Purchases 139,645 Shares of Global X Defense Tech ETF $SHLD

Confluence Investment Management LLC boosted its holdings in shares of Global X Defense Tech ETF (NYSEARCA:SHLD) by 113.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 262,921 shares of the company’s stock after acquiring an additional 139,645 shares during the quarter. Confluence Investment Management LLC’s holdings in Global X Defense Tech ETF were worth $15,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of SHLD. Chatterton & Associates Inc. grew its position in shares of Global X Defense Tech ETF by 121.0% during the 1st quarter. Chatterton & Associates Inc. now owns 20,999 shares of the company’s stock worth $1,559,000 after purchasing an additional 11,499 shares in the last quarter. Contango Wealth Management LLC bought a new stake in shares of Global X Defense Tech ETF during the 1st quarter worth $823,000. EWA LLC boosted 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. Valley Wealth Managers Inc. grew its stake in shares of Global X Defense Tech ETF by 16.6% during the first quarter. Valley Wealth Managers Inc. now owns 193,621 shares of the company’s stock worth $13,716,000 after buying an additional 27,529 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Global X Defense Tech ETF by 20.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 74,424 shares of the company’s stock worth $5,272,000 after purchasing an additional 12,537 shares in the last quarter. Institutional investors and hedge funds own 57.57% of the company’s stock.

Global X Defense Tech ETF Stock Up 1.8%

Shares of NYSEARCA:SHLD opened at $64.37 on Tuesday. The firm has a market cap of $7.18 billion, a P/E ratio of -5.32 and a beta of 0.29. The business has a fifty day simple moving average of $62.55 and a 200 day simple moving average of $69.00. Global X Defense Tech ETF has a 12-month low of $57.89 and a 12-month high of $78.49.

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.