Virtu Financial LLC and Shariaportfolio Inc. have recently acquired new stakes in SP Funds S&P Global Technology ETF, with Virtu Financial purchasing 11,268 shares valued at approximately $239,000, while Shariaportfolio purchased a stake worth $9,779,000. Despite this news, the stock of SP Funds S&P Global Technology ETF experienced a slight decrease of 0.9% in the fourth quarter.
On Friday, shares of NYSEARCA:SPTE opened at $27.18 with a fifty-day moving average of $25.00 and a two-hundred day moving average of $23.58. With a market cap of $35.33 million and a P/E ratio of 34.01, the fund has a beta of 1.53 and falls within the 52-week range between $19.79 and $28.17.
The SP Funds S&P Global Technology ETF (SPTE) is an exchange-traded fund that primarily invests in information technology equity companies adhering to Shariah investment principles worldwide. The fund is passively managed and weighted based on market cap, making it an attractive option for investors looking for global exposure to top technology firms that follow Shariah guidelines.
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In conclusion, both Virtu Financial LLC and Shariaportfolio Inc.’s recent purchases have had little impact on the performance of SP Funds S&P Global Technology ETF as it experienced a slight decrease in value during the fourth quarter. Nevertheless, this may be an opportunity for investors who believe in global technology firms that follow Shariah investment principles to diversify their portfolio or potentially invest in this specific fund through reputable platforms such as Fidelity Investments or Charles Schwab & Co., among others.
