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

Global X U.S. Electrification ETF (NASDAQ:ZAP) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 91,430 shares, an increase of 57.9% from the September 15th total of 57,894 shares. Based on an average daily trading volume, of 142,028 shares, the short-interest ratio is currently 0.6 days. Currently, 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Global X U.S. Electrification ETF

Several hedge funds have recently bought and sold shares of ZAP. Fifth Third Bancorp purchased a new position in Global X U.S. Electrification ETF during the 1st quarter worth $73,000. Carlson Financial Inc. bought a new position in shares of Global X U.S. Electrification ETF in the 2nd quarter worth $341,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Global X U.S. Electrification ETF during the 1st quarter worth $330,000. NWF Advisory Services Inc. purchased a new position in Global X U.S. Electrification ETF in the second quarter valued at about $372,000. Finally, Retirement Planning Group LLC bought a new position in Global X U.S. Electrification ETF in the first quarter worth about $419,000.

Global X U.S. Electrification ETF Stock Performance

ZAP traded up $0.16 during trading on Friday, reaching $31.24. 101,711 shares of the company traded hands, compared to its average volume of 125,209. Global X U.S. Electrification ETF has a 12-month low of $28.89 and a 12-month high of $35.39. The firm has a fifty day simple moving average of $31.55 and a 200 day simple moving average of $32.82. The company has a market cap of $447.04 million, a P/E ratio of -312.40 and a beta of 0.55.

Global X U.S. Electrification ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, October 5th were issued a $0.15 dividend. This is a drop from Global X U.S. Electrification ETF’s previous quarterly dividend of $0.1684. The ex-dividend date was Monday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. Global X U.S. Electrification ETF’s dividend payout ratio (DPR) is -590.00%.

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.