SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) Shares Shorted: Short Interest Down 59.2% in September

SP Funds S&P Global Technology ETF (NYSEARCA:SPTE) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 19,938 shares, a decrease of 59.2% from the September 15th total of 48,890 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 42,182 shares, the short-interest ratio is currently 0.5 days.

SP Funds S&P Global Technology ETF Stock Performance

Shares of SPTE traded down $0.05 during trading hours on Tuesday, reaching $50.05. 41,758 shares of the company traded hands, compared to its average volume of 48,724. The stock’s fifty day moving average is $48.42 and its 200 day moving average is $45.55. SP Funds S&P Global Technology ETF has a 1-year low of $32.74 and a 1-year high of $52.38. The stock has a market cap of $262.76 million, a P/E ratio of 34.36 and a beta of 1.57.

SP Funds S&P Global Technology ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 28th were paid a dividend of $0.0065 per share. This represents a $0.08 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, September 28th.

Hedge Funds Weigh In On SP Funds S&P Global Technology ETF

Several large investors have recently added to or reduced their stakes in SPTE. Merkkuri Wealth Advisors LLC bought a new stake in shares of SP Funds S&P Global Technology ETF during the first quarter valued at approximately $25,000. IFP Advisors Inc raised its stake in shares of SP Funds S&P Global Technology ETF by 182.1% in the second quarter. IFP Advisors Inc now owns 1,845 shares of the company’s stock valued at $90,000 after purchasing an additional 1,191 shares in the last quarter. World Equity Group Inc. bought a new position in SP Funds S&P Global Technology ETF in the second quarter worth $232,000. Strengthening Families & Communities LLC lifted its position in SP Funds S&P Global Technology ETF by 8.9% in the second quarter. Strengthening Families & Communities LLC now owns 7,423 shares of the company’s stock worth $362,000 after purchasing an additional 609 shares during the period. Finally, RFG Advisory LLC bought a new position in SP Funds S&P Global Technology ETF in the first quarter worth $574,000.

About SP Funds S&P Global Technology ETF

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.