Global X E-Commerce ETF (NASDAQ:EBIZ) Sees Significant Drop in Short Interest

Global X E-Commerce ETF (NASDAQ:EBIZ) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,500 shares, a decrease of 52.8% from the February 28th total of 5,300 shares. Based on an average trading volume of 22,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

Global X E-Commerce ETF Price Performance

Shares of EBIZ traded down $0.63 during mid-day trading on Friday, hitting $28.44. The company’s stock had a trading volume of 3,132 shares, compared to its average volume of 14,362. The firm has a 50-day moving average price of $29.76 and a 200 day moving average price of $28.31. Global X E-Commerce ETF has a fifty-two week low of $21.33 and a fifty-two week high of $32.37. The stock has a market capitalization of $69.39 million, a price-to-earnings ratio of 22.62 and a beta of 1.24.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EBIZ. CreativeOne Wealth LLC bought a new stake in shares of Global X E-Commerce ETF during the 3rd quarter worth $275,000. LPL Financial LLC raised its holdings in Global X E-Commerce ETF by 26.3% during the 4th quarter. LPL Financial LLC now owns 15,537 shares of the company’s stock worth $431,000 after buying an additional 3,239 shares during the period. Envestnet Asset Management Inc. lifted its stake in Global X E-Commerce ETF by 15.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,459 shares of the company’s stock valued at $457,000 after buying an additional 2,248 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Global X E-Commerce ETF by 31.4% in the fourth quarter. Cetera Investment Advisers now owns 24,779 shares of the company’s stock worth $687,000 after buying an additional 5,920 shares during the period. Finally, Vivaldi Capital Management LP raised its holdings in shares of Global X E-Commerce ETF by 9.2% during the fourth quarter. Vivaldi Capital Management LP now owns 11,184 shares of the company’s stock valued at $329,000 after acquiring an additional 943 shares during the period.

Global X E-Commerce ETF Company Profile

The Global X E-commerce ETF (EBIZ) is an exchange-traded fund that is based on the Solactive E-commerce index, a market-cap-weighted index of global e-commerce companies, including online retailers, retail platforms, and supporting businesses. EBIZ was launched on Nov 27, 2018 and is managed by Global X.