iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Shares Shorted: Short Interest Down 54.8% in October

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 387,313 shares, a decline of 54.8% from the September 30th total of 856,596 shares. Based on an average daily trading volume, of 332,642 shares, the short-interest ratio is currently 1.2 days. Currently, 1.3% of the shares of the company are sold short.

iShares MSCI Global Gold Miners ETF Stock Down 5.6%

iShares MSCI Global Gold Miners ETF stock traded down $3.97 during trading hours on Friday, hitting $66.88. 264,555 shares of the company traded hands, compared to its average volume of 585,661. iShares MSCI Global Gold Miners ETF has a 1-year low of $58.23 and a 1-year high of $100.41. The firm has a market cap of $2.04 billion, a P/E ratio of 19.24 and a beta of 0.65. The firm’s 50-day simple moving average is $80.70 and its two-hundred day simple moving average is $78.67.

Institutional Investors Weigh In On iShares MSCI Global Gold Miners ETF

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its holdings in iShares MSCI Global Gold Miners ETF by 135.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 361 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 208 shares during the period. Trust Co. of Vermont bought a new position in shares of iShares MSCI Global Gold Miners ETF in the second quarter worth about $42,000. Hanson & Doremus Investment Management bought a new position in iShares MSCI Global Gold Miners ETF in the 3rd quarter worth approximately $99,000. Prism Advisors Inc. bought a new position in iShares MSCI Global Gold Miners ETF in the third quarter valued at about $211,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in iShares MSCI Global Gold Miners ETF in the third quarter valued at approximately $244,000.

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.