The Global X Internet of Things ETF (NASDAQ:SNSR) experienced a notable rise in short interest during December 2023. As of December 15, short interest reached a total of 3,927 shares, marking an increase of 29.3% from the previous total of 3,037 shares reported on November 30. This uptick reflects a growing interest in betting against the fund’s performance.
With an average daily trading volume of 16,377 shares, the days-to-cover ratio currently stands at 0.2 days, indicating the time it would take for short sellers to cover their positions. Presently, approximately 0.1% of the ETF’s shares are sold short.
Institutional Investors Show Increased Activity
Recent trading activity has seen hedge funds and institutional investors actively buying and selling shares of the Global X Internet of Things ETF. Notably, Ameriflex Group Inc. doubled its holdings by 100.0% during the third quarter, now owning 1,228 shares valued at approximately $48,000 after acquiring an additional 614 shares.
Qube Research & Technologies Ltd. also significantly enhanced its position, increasing its holdings by 575.6% in the second quarter, bringing its total to 1,331 shares worth $50,000 after an additional purchase of 1,134 shares.
Furthermore, HB Wealth Management LLC entered the market with a new stake in the ETF during the third quarter, valued at around $203,000. In the same period, Great Valley Advisor Group Inc. and Wealth Enhancement Advisory Services LLC acquired new positions worth $211,000 and $239,000, respectively.
Current Stock Performance and Dividend Announcement
As of the latest trading session, shares of the Global X Internet of Things ETF opened at $37.26. The ETF boasts a market capitalization of $204.56 million, a price-to-earnings ratio of 26.18, and a beta of 1.26. Over the past year, the ETF has seen a low of $26.78 and a high of $40.32. Its 50-day moving average price is $37.41, while the 200-day moving average stands at $37.90.
In addition to recent trading activity, the company has declared a dividend to be paid on January 7, 2024. Shareholders of record as of December 30, 2023, will receive a dividend of $0.1496 per share, which equates to a yield of 80.0%.
Launched on September 12, 2016, the Global X Internet of Things ETF primarily invests in stocks linked to the Internet of Things sector, tracking a market-cap-weighted index of companies in developed markets that support this growing industry. The fund aims to provide investors with exposure to a rapidly evolving technological landscape.
