Short Interest in SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) Decreases By 44.1%

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 36,285 shares, a decline of 44.1% from the July 15th total of 64,882 shares. Based on an average trading volume of 36,800 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the company’s shares are sold short.

SP Funds S&P Global Technology ETF Stock Up 0.5%

Shares of NYSEARCA:SPTE traded up $0.24 during midday trading on Monday, hitting $48.60. 38,314 shares of the stock traded hands, compared to its average volume of 49,511. The stock has a market capitalization of $229.39 million, a PE ratio of 34.36 and a beta of 1.59. The business’s 50 day moving average is $46.81 and its two-hundred day moving average is $42.11. SP Funds S&P Global Technology ETF has a one year low of $30.97 and a one year high of $50.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SPTE. Merkkuri Wealth Advisors LLC bought a new position in shares of SP Funds S&P Global Technology ETF during the first quarter valued at approximately $25,000. Sunbelt Securities Inc. bought a new stake in SP Funds S&P Global Technology ETF in the third quarter valued at $28,000. CWM LLC boosted its holdings in SP Funds S&P Global Technology ETF by 47.9% in the fourth quarter. CWM LLC now owns 4,266 shares of the company’s stock valued at $150,000 after acquiring an additional 1,381 shares in the last quarter. Bank of America Corp DE purchased a new position in SP Funds S&P Global Technology ETF during the 2nd quarter valued at $50,000. Finally, TD Waterhouse Canada Inc. increased its position in SP Funds S&P Global Technology ETF by 4.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 50,463 shares of the company’s stock valued at $1,774,000 after purchasing an additional 2,199 shares during the period.

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.