Short Interest in Global X MSCI Argentina ETF (NYSEARCA:ARGT) Drops By 49.8%

Global X MSCI Argentina ETF (NYSEARCA:ARGT) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 435,938 shares, a drop of 49.8% from the June 15th total of 867,761 shares. Based on an average daily trading volume, of 270,001 shares, the days-to-cover ratio is currently 1.6 days. Approximately 4.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in Global X MSCI Argentina ETF by 245.5% during the fourth quarter. Morgan Stanley now owns 582,126 shares of the company’s stock valued at $53,212,000 after purchasing an additional 413,659 shares in the last quarter. UBS Group AG raised its position in shares of Global X MSCI Argentina ETF by 1,810.3% during the 3rd quarter. UBS Group AG now owns 135,519 shares of the company’s stock valued at $9,454,000 after purchasing an additional 128,425 shares during the period. Varma Mutual Pension Insurance Co bought a new stake in shares of Global X MSCI Argentina ETF during the 4th quarter valued at $5,905,000. Jane Street Group LLC purchased a new position in shares of Global X MSCI Argentina ETF during the 1st quarter valued at $4,131,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in Global X MSCI Argentina ETF by 6,938.7% in the 4th quarter. Capital Advisors Ltd. LLC now owns 40,965 shares of the company’s stock worth $3,745,000 after buying an additional 40,383 shares during the period.

Global X MSCI Argentina ETF Stock Up 0.6%

ARGT traded up $0.61 during midday trading on Wednesday, hitting $95.35. 68,754 shares of the company traded hands, compared to its average volume of 246,316. The firm has a market capitalization of $866.73 million, a PE ratio of 13.65 and a beta of 0.97. The company’s 50-day moving average is $93.11 and its 200 day moving average is $92.58. Global X MSCI Argentina ETF has a 52 week low of $66.49 and a 52 week high of $103.97.

About Global X MSCI Argentina ETF

The Global X MSCI Argentina ETF (ARGT) is an exchange-traded fund that is based on the MSCI All Argentina 25\u002F50 index. The fund tracks a narrow index of companies with Argentine economic linkages that are selected and weighted by market cap. ARGT was launched on Mar 2, 2011 and is managed by Global X.