Short Interest in iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Increases By 245.7%

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 1,249,845 shares, a growth of 245.7% from the June 30th total of 361,591 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 553,650 shares, the days-to-cover ratio is presently 2.3 days.

iShares MSCI Global Gold Miners ETF Trading Up 0.9%

Shares of RING stock traded up $0.56 during trading hours on Monday, hitting $65.05. 430,706 shares of the company were exchanged, compared to its average volume of 558,145. The business has a 50 day moving average of $68.62 and a two-hundred day moving average of $78.56. iShares MSCI Global Gold Miners ETF has a 52 week low of $43.50 and a 52 week high of $100.41. The company has a market capitalization of $2.32 billion, a PE ratio of 19.24 and a beta of 0.61.

iShares MSCI Global Gold Miners ETF Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were paid a $0.5264 dividend. The ex-dividend date of this dividend was Monday, June 15th.

Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF

A number of large investors have recently added to or reduced their stakes in the company. Allied Private Wealth LLC acquired a new stake in shares of iShares MSCI Global Gold Miners ETF in the 2nd quarter valued at about $355,000. Janney Montgomery Scott LLC acquired a new position in shares of iShares MSCI Global Gold Miners ETF during the first quarter worth about $1,290,000. Advisory Services Network LLC boosted its position in shares of iShares MSCI Global Gold Miners ETF by 68.3% during the fourth quarter. Advisory Services Network LLC now owns 41,502 shares of the exchange traded fund’s stock worth $3,056,000 after buying an additional 16,837 shares during the period. Marshall Wace LLP bought a new position in shares of iShares MSCI Global Gold Miners ETF during the fourth quarter worth about $3,336,000. Finally, Arkadios Wealth Advisors bought a new position in shares of iShares MSCI Global Gold Miners ETF during the fourth quarter worth about $218,000.

iShares MSCI Global Gold Miners ETF Company Profile

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.