Global X Robotics & AI Thematic ETF Sees 10.9% Drop in Short Interest
The Global X Robotics & Artificial Intelligence Thematic ETF (NASDAQ: BOTZ) recently experienced a significant decline in short interest by 10.9%. This means fewer investors are betting against the ETF, which could indicate growing confidence in the fund's performance. Short interest is a measure of the number of shares investors have sold short, expecting the price to fall.
As of July 31st, short interest in BOTZ totaled 428,100 shares, down from 480,600 shares on July 15th. With an average daily trading volume of 612,900 shares, this results in a short-interest ratio of only 0.7 days. A lower ratio suggests that it would take less time to cover all short positions, indicating a decrease in bearish sentiment.
Price Performance of Global X Robotics & AI ETF
On Friday, shares of NASDAQ BOTZ opened at $30.50. The ETF has shown some stability with a 50-day moving average price of $30.63 and a 200-day moving average price of $30.77. This means the price has been relatively stable over these periods. The ETF's market capitalization stands at $2.65 billion, with a price-to-earnings (P/E) ratio of 42.68 and a beta of 1.25, suggesting it is slightly more volatile than the market.
For context, a P/E ratio is used to value a company by measuring its current share price relative to its per-share earnings. A beta greater than 1 indicates that the ETF is more volatile than the overall market.
Dividend News
In a recent announcement, the fund disclosed a semi-annual dividend of $0.0431 per share, paid on July 5th to shareholders on record as of June 27th. Dividends are payments made by a company to its shareholders, often providing a steady income stream.
Institutional Investors Adjust Holdings
Several institutional investors and hedge funds have been revising their positions in BOTZ. For instance, Fisher Asset Management LLC increased its stake by 9.2% in the fourth quarter, now owning 718,079 shares valued at $20,465,000. Similarly, BNP Paribas Financial Markets increased its holdings by 411.0%, owning 43,922 shares now valued at $1,252,000. This activity suggests growing institutional interest and confidence in the ETF.
Understanding BOTZ ETF
The Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ) is an exchange-traded fund focusing on companies involved in robotics and artificial intelligence development. Launched on September 12, 2016, and managed by Global X, it offers exposure to a market-cap-weighted selection of stocks within this innovative sector.
In summary, the recent drop in short interest, coupled with institutional investments, reflects a potentially positive outlook for BOTZ in the evolving landscape of robotics and AI. As an ETF, BOTZ provides a diversified investment opportunity in this high-growth industry sector.
