Short Interest in Global X U.S. Electrification ETF (NASDAQ:ZAP) Drops By 58.9%

Global X U.S. Electrification ETF (NASDAQ:ZAP) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 65,175 shares, a decline of 58.9% from the May 31st total of 158,498 shares. Based on an average daily volume of 118,471 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new stake in Global X U.S. Electrification ETF in the second quarter worth $34,000. Ameriflex Group Inc. purchased a new stake in Global X U.S. Electrification ETF during the fourth quarter valued at approximately $51,000. Fifth Third Bancorp purchased a new stake in Global X U.S. Electrification ETF during the first quarter valued at approximately $73,000. Osaic Holdings Inc. bought a new stake in shares of Global X U.S. Electrification ETF in the 2nd quarter valued at approximately $140,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Global X U.S. Electrification ETF in the 2nd quarter valued at approximately $205,000.

Global X U.S. Electrification ETF Trading Down 0.4%

Shares of NASDAQ:ZAP traded down $0.14 during mid-day trading on Tuesday, reaching $34.61. The stock had a trading volume of 139,947 shares, compared to its average volume of 128,924. The company has a market cap of $455.12 million, a P/E ratio of -346.10 and a beta of 0.54. Global X U.S. Electrification ETF has a 1 year low of $26.33 and a 1 year high of $35.39. The business’s 50 day moving average price is $33.77 and its 200 day moving average price is $32.19.

Global X U.S. Electrification ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, April 6th were paid a $0.1266 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.51 dividend on an annualized basis and a yield of 1.5%. Global X U.S. Electrification ETF’s payout ratio is presently -510.00%.

Global X U.S. Electrification ETF Company Profile

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.