Global X U.S. Electrification ETF (NASDAQ:ZAP) Sees Significant Decrease in Short Interest

Global X U.S. Electrification ETF (NASDAQ:ZAP) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 30,800 shares, a drop of 49.1% from the September 15th total of 60,500 shares. Based on an average daily volume of 111,800 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 111,800 shares, the days-to-cover ratio is currently 0.3 days.

Global X U.S. Electrification ETF Trading Down 1.2%

Shares of ZAP stock opened at $30.38 on Wednesday. Global X U.S. Electrification ETF has a 12-month low of $22.16 and a 12-month high of $31.52. The firm’s 50 day moving average is $28.92 and its 200 day moving average is $27.06. The stock has a market capitalization of $227.85 million and a P/E ratio of -303.80.

Global X U.S. Electrification ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, October 3rd were issued a $0.0981 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.39 annualized dividend and a yield of 1.3%. Global X U.S. Electrification ETF’s dividend payout ratio (DPR) is currently -370.00%.

Institutional Investors Weigh In On Global X U.S. Electrification ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in Global X U.S. Electrification ETF in the second quarter worth approximately $34,000. Osaic Holdings Inc. bought a new position in Global X U.S. Electrification ETF in the second quarter worth approximately $140,000. Blair William & Co. IL bought a new position in Global X U.S. Electrification ETF in the second quarter worth approximately $153,000. IFP Advisors Inc bought a new position in Global X U.S. Electrification ETF in the second quarter worth approximately $193,000. Finally, Raymond James Financial Inc. bought a new position in Global X U.S. Electrification ETF in the second quarter worth approximately $205,000.

About Global X U.S. Electrification ETF

The Global X U.S. Electrification ETF (ZAP) is an exchange-traded fund that is based on the Global X US Electrification index. The fund tracks market-cap selected and weighted index of US listed companies in developed markets involved in the industry of electrification. This includes companies involved in conventional and alternative electricity, and smart grid technologies.