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 during 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. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 332,642 shares, the short-interest ratio is presently 1.2 days.

iShares MSCI Global Gold Miners ETF Trading Down 5.6%

NASDAQ RING traded down $4.00 during trading hours on Friday, reaching $66.85. The company had a trading volume of 539,719 shares, compared to its average volume of 587,157. The stock has a market capitalization of $2.04 billion, a P/E ratio of 19.24 and a beta of 0.65. The stock has a 50-day moving average of $80.28 and a 200 day moving average of $78.59. iShares MSCI Global Gold Miners ETF has a 1-year low of $58.23 and a 1-year high of $100.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RING. Syon Capital LLC lifted its stake in iShares MSCI Global Gold Miners ETF by 53.5% in the second quarter. Syon Capital LLC now owns 187,958 shares of the exchange traded fund’s stock valued at $12,142,000 after buying an additional 65,538 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in iShares MSCI Global Gold Miners ETF during the first quarter worth about $1,290,000. Allied Private Wealth LLC purchased a new position in shares of iShares MSCI Global Gold Miners ETF in the 2nd quarter worth about $355,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of iShares MSCI Global Gold Miners ETF in the third quarter worth about $244,000. Finally, Prism Advisors Inc. purchased a new stake in iShares MSCI Global Gold Miners ETF during the 3rd quarter worth $211,000.

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.