Global X Silver Miners ETF (NYSEARCA:SIL) Sees Significant Decline in Short Interest

Global X Silver Miners ETF (NYSEARCA:SIL) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 1,375,547 shares, a decrease of 42.7% from the December 31st total of 2,402,669 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily volume of 3,468,636 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 3,468,636 shares, the short-interest ratio is currently 0.4 days. Approximately 2.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Global X Silver Miners ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIL. Pekin Hardy Strauss Inc. boosted its stake in shares of Global X Silver Miners ETF by 4.0% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 46,473 shares of the company’s stock valued at $3,881,000 after buying an additional 1,800 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Global X Silver Miners ETF by 101.5% during the 4th quarter. Wealthfront Advisers LLC now owns 19,604 shares of the company’s stock worth $1,637,000 after acquiring an additional 9,874 shares in the last quarter. IMC Chicago LLC bought a new position in shares of Global X Silver Miners ETF in the fourth quarter valued at approximately $2,562,000. Physician Wealth Advisors Inc. lifted its position in Global X Silver Miners ETF by 59.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 13,145 shares of the company’s stock worth $1,098,000 after acquiring an additional 4,920 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Global X Silver Miners ETF by 192.9% during the 4th quarter. Sanctuary Advisors LLC now owns 18,555 shares of the company’s stock valued at $1,550,000 after purchasing an additional 12,221 shares during the period.

Global X Silver Miners ETF Stock Down 13.1%

SIL stock traded down $14.54 during midday trading on Friday, reaching $96.12. The company had a trading volume of 9,682,954 shares, compared to its average volume of 5,213,702. The firm has a market capitalization of $6.23 billion, a PE ratio of 32.07 and a beta of 0.71. The stock has a 50 day moving average price of $87.58 and a 200 day moving average price of $70.80. Global X Silver Miners ETF has a fifty-two week low of $33.11 and a fifty-two week high of $119.24.

About Global X Silver Miners ETF

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.