Global X Solar ETF (NASDAQ:RAYS) Sees Large Decrease in Short Interest

Global X Solar ETF (NASDAQ:RAYS) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 10,700 shares, a drop of 15.1% from the March 31st total of 12,600 shares. Based on an average trading volume of 10,700 shares, the short-interest ratio is presently 1.0 days.

Global X Solar ETF Price Performance

RAYS stock traded down $0.31 during mid-day trading on Tuesday, reaching $10.90. The company had a trading volume of 4,259 shares, compared to its average volume of 9,872. The firm has a 50 day moving average of $11.47 and a 200 day moving average of $11.77. The company has a market capitalization of $6.21 million, a PE ratio of -50.88 and a beta of 1.08. Global X Solar ETF has a 12 month low of $10.15 and a 12 month high of $19.54.

Institutional Trading of Global X Solar ETF

Several institutional investors and hedge funds have recently made changes to their positions in RAYS. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Global X Solar ETF during the third quarter worth $3,665,000. Howe & Rusling Inc. boosted its position in shares of Global X Solar ETF by 51.4% in the 3rd quarter. Howe & Rusling Inc. now owns 20,312 shares of the company’s stock worth $274,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Albion Financial Group UT purchased a new position in Global X Solar ETF during the 1st quarter worth $49,000. 9.99% of the stock is currently owned by institutional investors.

About Global X Solar ETF

The Global X Solar ETF (RAYS) is an exchange-traded fund that is based on the Solactive Solar index, a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria. RAYS was launched on Sep 8, 2021 and is managed by Global X.