Priya Patel
TLDR:
Citigroup Inc. decreased its stake in Global X FinTech Thematic ETF by 24.7% in the 3rd quarter, selling 13,363 shares. Other large investors also made changes to their positions in the company. The ETF opened at $26.52 on Wednesday and has a market capitalization of $394.09 million. It recently cut its dividend and is based on the Indxx Global Fintech Thematic index.
Article Summary:
Citigroup Inc. reduced its ownership of Global X FinTech Thematic ETF by 24.7% in the 3rd quarter, selling 13,363 shares according to its recent 13F filing with the SEC. The institutional investor owned 40,732 shares of the company’s stock worth $820,000. Other major investors such as Comerica Bank, Credit Suisse AG, Simplex Trading LLC, Oxford Financial Group Ltd., and Money Concepts Capital Corp also made changes to their positions in the company. Global X FinTech Thematic ETF opened at $26.52 on Wednesday and has a market capitalization of $394.09 million.
The ETF is based on the Indxx Global Fintech Thematic index, a market-cap-weighted index of companies in developed markets that derive significant revenues from providing financial technology products and services. FINX was launched on Sep 12, 2016, and is managed by Global X. It has performed with a twelve-month low of $18.17 and a high of $27.60. The recent announcement of a Semi-Annual dividend was paid on Monday, January 8th, with investors receiving $0.003 per share. The ex-dividend date was Thursday, December 28th.
Overall, Citigroup Inc.’s selling of shares in Global X FinTech Thematic ETF, along with other major investors’ actions, highlights a shift in ownership and investment strategies in the market. The focus on financial technology companies and products, as seen in the ETF’s composition, indicates a growing interest in this sector among investors.
