Global X U.S. Electrification ETF (NASDAQ:ZAP) Stock Falls 0.8% – Here’s What Happened

Global X U.S. Electrification ETF (NASDAQ:ZAP)’s stock price traded down 0.8% on Thursday. The stock traded as low as $31.00 and last traded at $31.35. 124,219 shares traded hands during trading, a decline of 1% from the average session volume of 125,082 shares. The stock had previously closed at $31.61.

Global X U.S. Electrification ETF Trading Up 0.8%

The stock has a market capitalization of $448.26 million, a price-to-earnings ratio of -315.90 and a beta of 0.55. The stock has a 50-day simple moving average of $31.68 and a 200 day simple moving average of $32.83.

Global X U.S. Electrification ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, October 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, October 5th. This is a drop from Global X U.S. Electrification ETF’s previous quarterly dividend of $0.1684. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. Global X U.S. Electrification ETF’s payout ratio is presently -590.00%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in shares of Global X U.S. Electrification ETF by 34.2% during the first quarter. Bank of America Corp DE now owns 1,228,100 shares of the company’s stock worth $39,496,000 after acquiring an additional 312,881 shares in the last quarter. Flynn Zito Capital Management LLC purchased a new position in Global X U.S. Electrification ETF in the first quarter valued at about $4,766,000. Envestnet Asset Management Inc. increased its position in Global X U.S. Electrification ETF by 10.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 92,316 shares of the company’s stock worth $3,195,000 after purchasing an additional 8,803 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Global X U.S. Electrification ETF by 409.2% during the 1st quarter. Cetera Investment Advisers now owns 88,221 shares of the company’s stock worth $2,837,000 after purchasing an additional 70,897 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Global X U.S. Electrification ETF by 5.1% during the 2nd quarter. Citadel Advisors LLC now owns 60,889 shares of the company’s stock worth $2,107,000 after purchasing an additional 2,938 shares in the last quarter.

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. ZAP was launched on Dec 17, 2024 and is issued by Global X.