iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Short Interest Update

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,043,832 shares, a growth of 100.5% from the August 15th total of 520,524 shares. Based on an average daily volume of 810,315 shares, the short-interest ratio is currently 1.3 days. Currently, 3.2% of the shares of the stock are short sold.

iShares MSCI Global Gold Miners ETF Stock Down 3.0%

iShares MSCI Global Gold Miners ETF stock traded down $2.55 during mid-day trading on Monday, reaching $82.92. 624,263 shares of the company’s stock traded hands, compared to its average volume of 615,731. iShares MSCI Global Gold Miners ETF has a 12-month low of $57.45 and a 12-month high of $100.41. The stock has a 50 day moving average of $75.29 and a two-hundred day moving average of $77.17. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 19.24 and a beta of 0.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Syon Capital LLC increased its stake in iShares MSCI Global Gold Miners ETF by 53.5% during the second quarter. Syon Capital LLC now owns 187,958 shares of the exchange traded fund’s stock worth $12,142,000 after acquiring an additional 65,538 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of iShares MSCI Global Gold Miners ETF in the 1st quarter worth approximately $1,290,000. Allied Private Wealth LLC bought a new position in shares of iShares MSCI Global Gold Miners ETF during the 2nd quarter valued at approximately $355,000. Creative Financial Designs Inc. ADV boosted its stake in iShares MSCI Global Gold Miners ETF by 7.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,500 shares of the exchange traded fund’s stock worth $184,000 after buying an additional 178 shares during the period. Finally, Trust Co. of Vermont bought a new position in iShares MSCI Global Gold Miners ETF during the second quarter valued at $42,000.

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.