Short Interest in Global X U.S. Electrification ETF (NASDAQ:ZAP) Drops By 78.5%

Global X U.S. Electrification ETF (NASDAQ:ZAP) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 14,445 shares, a drop of 78.5% from the July 15th total of 67,305 shares. Based on an average trading volume of 72,391 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

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

A number of hedge funds have recently added to or reduced their stakes in the company. Trilogy Capital Inc. lifted its stake in Global X U.S. Electrification ETF by 11.4% in the second quarter. Trilogy Capital Inc. now owns 21,221 shares of the company’s stock valued at $734,000 after acquiring an additional 2,171 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Global X U.S. Electrification ETF by 34.2% during 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 in the last quarter. Cetera Investment Advisers raised its holdings in shares of Global X U.S. Electrification ETF by 409.2% during the 1st quarter. Cetera Investment Advisers now owns 88,221 shares of the company’s stock valued at $2,837,000 after purchasing an additional 70,897 shares in the last quarter. Flynn Zito Capital Management LLC acquired a new stake in shares of Global X U.S. Electrification ETF in the 1st quarter valued at $4,766,000. Finally, Retirement Planning Group LLC acquired a new stake in shares of Global X U.S. Electrification ETF in the 1st quarter valued at $419,000.

Global X U.S. Electrification ETF Trading Up 0.5%

ZAP opened at $33.15 on Friday. The stock has a fifty day moving average price of $33.48 and a 200 day moving average price of $33.03. Global X U.S. Electrification ETF has a 1 year low of $27.32 and a 1 year high of $35.39. The stock has a market cap of $472.06 million, a price-to-earnings ratio of -331.50 and a beta of 0.57.

Global X U.S. Electrification ETF Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Monday, July 6th were issued a dividend of $0.1684 per share. This represents a $0.67 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, July 6th. Global X U.S. Electrification ETF’s payout ratio is currently -540.00%.

About Global X U.S. Electrification ETF

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.