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 growth in short interest during the month of August. As of August 14th, there was short interest totaling 74,280 shares, a growth of 414.2% from the July 30th total of 14,445 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average trading volume of 116,839 shares, the days-to-cover ratio is presently 0.6 days.

Global X U.S. Electrification ETF Stock Performance

Shares of ZAP stock opened at $31.85 on Friday. Global X U.S. Electrification ETF has a fifty-two week low of $27.32 and a fifty-two week high of $35.39. The stock’s fifty day moving average price is $33.26 and its two-hundred day moving average price is $33.14. The company has a market cap of $453.54 million, a PE ratio of -318.50 and a beta of 0.57.

Global X U.S. Electrification ETF Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, July 6th were given a $0.1684 dividend. This represents a $0.67 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, July 6th. Global X U.S. Electrification ETF’s payout ratio is currently -540.00%.

Institutional Investors Weigh In On Global X U.S. Electrification ETF

Several hedge funds and other institutional investors have recently made changes to their positions in ZAP. Bank of America Corp DE lifted its stake in Global X U.S. Electrification ETF by 34.2% in the 1st quarter. Bank of America Corp DE now owns 1,228,100 shares of the company’s stock valued at $39,496,000 after purchasing an additional 312,881 shares during the last quarter. Bensler LLC increased its holdings in shares of Global X U.S. Electrification ETF by 2.0% during the fourth quarter. Bensler LLC now owns 991,322 shares of the company’s stock worth $28,808,000 after buying an additional 19,456 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Global X U.S. Electrification ETF by 43.8% during the fourth quarter. LPL Financial LLC now owns 383,837 shares of the company’s stock worth $11,154,000 after buying an additional 116,864 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Global X U.S. Electrification ETF in the 4th quarter valued at $4,736,000. Finally, Flynn Zito Capital Management LLC bought a new position in shares of Global X U.S. Electrification ETF in the 1st quarter valued at $4,766,000.

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.