Global X U.S. Electrification ETF (NASDAQ:ZAP) Trading Down 0.4% – Time to Sell?

Global X U.S. Electrification ETF (NASDAQ:ZAP)’s stock price traded down 0.4% on Tuesday . The company traded as low as $29.30 and last traded at $29.30. 69,130 shares traded hands during trading, a decline of 11% from the average session volume of 78,049 shares. The stock had previously closed at $29.41.

Global X U.S. Electrification ETF Price Performance

The business’s 50 day moving average is $30.26 and its two-hundred day moving average is $28.45. The firm has a market capitalization of $249.05 million, a PE ratio of -293.00 and a beta of 1.40.

Global X U.S. Electrification ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, October 3rd were paid a $0.0981 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.39 annualized dividend and a yield of 1.3%. Global X U.S. Electrification ETF’s payout ratio is currently -370.00%.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bensler LLC purchased a new position in shares of Global X U.S. Electrification ETF in the 3rd quarter worth about $28,689,000. Bank of America Corp DE increased its stake in Global X U.S. Electrification ETF by 36,521.6% during the 3rd quarter. Bank of America Corp DE now owns 457,038 shares of the company’s stock valued at $13,492,000 after purchasing an additional 455,790 shares in the last quarter. Inspire Advisors LLC raised its holdings in Global X U.S. Electrification ETF by 3.0% in the third quarter. Inspire Advisors LLC now owns 95,754 shares of the company’s stock worth $2,827,000 after buying an additional 2,814 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Global X U.S. Electrification ETF in the third quarter worth approximately $2,627,000. Finally, Savvy Advisors Inc. purchased a new stake in shares of Global X U.S. Electrification ETF during the third quarter valued at approximately $1,967,000.

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.