The Global X Internet of Things ETF (NASDAQ: SNSR) experienced a notable increase in short interest during December 2023. As of December 15, short interest reached a total of 3,927 shares, marking a substantial rise of 29.3% from 3,037 shares reported on November 30. With an average daily trading volume of 16,377 shares, the days-to-cover ratio stands at 0.2 days, indicating a relatively low level of short-selling activity, with 0.1% of the total shares sold short.
Hedge funds and institutional investors have shown increased interest in the ETF, reflecting a growing confidence in its potential. Notably, Ameriflex Group Inc. expanded its holdings by 100% in the third quarter, now owning 1,228 shares valued at approximately $48,000 after acquiring an additional 614 shares. Similarly, Qube Research & Technologies Ltd. boosted its position by an impressive 575.6% during the second quarter, bringing its total to 1,331 shares, worth around $50,000.
In addition to these transactions, other firms have also made significant investments in the ETF. HB Wealth Management LLC purchased a new stake valued at about $203,000 in the third quarter, while Great Valley Advisor Group Inc. and Wealth Enhancement Advisory Services LLC acquired positions worth $211,000 and $239,000 respectively, during the second quarter.
The share price of the Global X Internet of Things ETF saw a minor decline of 0.2% on Wednesday, opening at $37.26. The ETF has 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 stock has fluctuated between a low of $26.78 and a high of $40.32. Its current 50-day moving average price is $37.41, while the 200-day moving average stands at $37.90.
Furthermore, the Global X Internet of Things ETF announced a dividend, scheduled for payment on January 7, 2024. Shareholders of record on December 30, 2023, will receive a dividend of $0.1496 per share, reflecting a significant dividend yield of 80.0%. The ex-dividend date is also set for December 30.
The Global X Internet of Things ETF, launched on September 12, 2016, aims to track a market-cap-weighted index of companies involved in the Internet of Things sector. As investor interest continues to grow, the ETF remains a focal point for those looking to capitalize on advancements in technology and connectivity.
