Ares Strategic Mining Inc. (OTCMKTS:ARSMF) Short Interest Down 47.2% in July

Ares Strategic Mining Inc. (OTCMKTS:ARSMF) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 68,166 shares, a decline of 47.2% from the July 15th total of 129,096 shares. Based on an average trading volume of 684,296 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Ares Strategic Mining

Several hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in shares of Ares Strategic Mining in the 2nd quarter worth about $122,000. Bank of New York Mellon Corp bought a new position in shares of Ares Strategic Mining during the 2nd quarter valued at about $345,000. BlackRock Inc. purchased a new position in shares of Ares Strategic Mining during the 2nd quarter valued at about $10,274,000. Finally, Galaxy Digital Capital Management GP LLC purchased a new position in shares of Ares Strategic Mining during the 2nd quarter valued at about $328,000.

Ares Strategic Mining Trading Down 0.5%

Shares of OTCMKTS:ARSMF opened at $0.29 on Friday. Ares Strategic Mining has a 52-week low of $0.16 and a 52-week high of $0.75. The firm has a fifty day moving average of $0.22 and a 200 day moving average of $0.28.

About Ares Strategic Mining

Ares Strategic Mining Inc, a junior natural resource mining company, engages in the acquisition, exploration, and development of fluorspar properties in Canada and the United States. It focuses on the exploitation, production, and supply of metspar and acidspar. The company holds 100% interest in the Lost Sheep Fluoride Mine that consists of 353 claims covering an area of approximately 5,982 acres located in western Utah, the United States; and the Liard Fluorspar property, which includes 55 claims covering an area of approximately 55,000 acres located in British Columbia.