iShares MSCI Global Gold Miners ETF (NASDAQ:RING – Get Free Report) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 585,800 shares, an increase of 24.4% from the February 13th total of 470,900 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average trading volume of 267,000 shares, the days-to-cover ratio is currently 2.2 days.
iShares MSCI Global Gold Miners ETF Stock Performance
RING opened at $37.40 on Wednesday. iShares MSCI Global Gold Miners ETF has a one year low of $23.24 and a one year high of $38.00. The company has a market cap of $1.15 billion, a P/E ratio of 16.74 and a beta of 0.75. The business’s 50-day simple moving average is $33.18 and its 200-day simple moving average is $32.17.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Bearing Point Capital LLC purchased a new position in iShares MSCI Global Gold Miners ETF during the 4th quarter worth approximately $2,556,000. Climber Capital SA acquired a new stake in shares of iShares MSCI Global Gold Miners ETF in the 4th quarter valued at approximately $1,821,000. JPMorgan Chase & Co. acquired a new stake in shares of iShares MSCI Global Gold Miners ETF in the 4th quarter valued at approximately $6,052,000. Family Firm Inc. lifted its holdings in shares of iShares MSCI Global Gold Miners ETF by 28.2% in the 4th quarter. Family Firm Inc. now owns 42,173 shares of the exchange traded fund’s stock valued at $1,185,000 after buying an additional 9,276 shares during the period. Finally, Wintrust Investments LLC acquired a new stake in shares of iShares MSCI Global Gold Miners ETF in the 4th quarter valued at approximately $93,000.
About iShares MSCI Global Gold Miners ETF
The iShares MSCI Global Gold Miners ETF (RING) is an exchange-traded fund that is based on the MSCI ACWI Select Gold Miners IMI index, a market-cap-weighted index of companies that generate revenue primarily from gold mining. RING was launched on Jan 31, 2012 and is managed by BlackRock.
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