Global X Cybersecurity ETF (NASDAQ:BUG) Sees Large Growth in Short Interest

Global X Cybersecurity ETF (NASDAQ:BUG) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 264,100 shares, an increase of 20.9% from the February 28th total of 218,400 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 246,100 shares, the short-interest ratio is presently 1.1 days.

Global X Cybersecurity ETF Price Performance

NASDAQ:BUG opened at $32.67 on Wednesday. The business’s 50-day simple moving average is $34.11 and its 200-day simple moving average is $32.85. Global X Cybersecurity ETF has a fifty-two week low of $26.03 and a fifty-two week high of $36.81. The stock has a market capitalization of $819.04 million, a PE ratio of 31.16 and a beta of 0.86.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of Global X Cybersecurity ETF by 213.1% during the third quarter. FMR LLC now owns 1,221 shares of the company’s stock worth $38,000 after purchasing an additional 831 shares during the period. Synovus Financial Corp acquired a new position in shares of Global X Cybersecurity ETF during the third quarter worth $223,000. Granite Bay Wealth Management LLC boosted its stake in shares of Global X Cybersecurity ETF by 0.9% during the fourth quarter. Granite Bay Wealth Management LLC now owns 343,069 shares of the company’s stock valued at $11,009,000 after purchasing an additional 3,070 shares in the last quarter. Pinnacle Wealth Management Group Inc. grew its holdings in Global X Cybersecurity ETF by 1.4% during the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 81,333 shares of the company’s stock worth $2,610,000 after acquiring an additional 1,090 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Global X Cybersecurity ETF in the fourth quarter valued at $5,131,000.

About Global X Cybersecurity ETF

The Global X Cybersecurity ETF (BUG) is an exchange-traded fund that is based on the Indxx Cybersecurity index, a modified market-cap-weighted global index of companies selected on the basis of revenue related to cybersecurity activities. BUG was launched on Oct 25, 2019 and is managed by Global X.