Global X Defense Tech ETF (NYSEARCA:SHLD) Sees Large Volume Increase – Here’s What Happened

Global X Defense Tech ETF (NYSEARCA:SHLD) shares saw unusually-strong trading volume on Wednesday. Approximately 4,280,042 shares traded hands during trading, an increase of 152% from the average daily volume of 1,699,912 shares. The stock last traded at $61.11 and had previously closed at $63.38.

Global X Defense Tech ETF Stock Performance

The stock’s fifty day moving average price is $61.97 and its 200-day moving average price is $67.06. The company has a market capitalization of $6.00 billion, a P/E ratio of -4.81 and a beta of 0.30.

Hedge Funds Weigh In On Global X Defense Tech ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of SHLD. Money Concepts Capital Corp acquired a new stake in Global X Defense Tech ETF in the third quarter valued at about $289,000. Nikulski Financial Inc. grew its position in Global X Defense Tech ETF by 12.6% in the third quarter. Nikulski Financial Inc. now owns 67,197 shares of the company’s stock valued at $4,037,000 after acquiring an additional 7,495 shares during the last quarter. Schwallier Wealth Management LLC grew its position in Global X Defense Tech ETF by 6.3% in the third quarter. Schwallier Wealth Management LLC now owns 50,915 shares of the company’s stock valued at $3,059,000 after acquiring an additional 3,025 shares during the last quarter. Joel Isaacson & Co. LLC bought a new position in Global X Defense Tech ETF in the third quarter valued at about $781,000. Finally, Northbridge Financial Group LLC raised its stake in Global X Defense Tech ETF by 2.8% during the third quarter. Northbridge Financial Group LLC now owns 51,316 shares of the company’s stock worth $3,082,000 after acquiring an additional 1,389 shares in the last quarter. Institutional investors own 57.57% of the company’s stock.

About Global X Defense Tech ETF

The Global X Defense Tech ETF (SHLD) is an exchange-traded fund that is based on the Global X Defense Tech index. The fund tracks a modified market-cap weighted index of the top 50 pure-play defense technology companies from around the world. These companies are considered best positioned to benefit from increased governmental defense spending. SHLD was launched on Sep 11, 2023 and is issued by Global X.