Short Interest in iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Grows By 426.6%

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 520,524 shares, an increase of 426.6% from the July 30th total of 98,847 shares. Based on an average trading volume of 700,582 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.6% of the shares of the stock are short sold.

iShares MSCI Global Gold Miners ETF Price Performance

Shares of NASDAQ:RING traded down $1.12 on Friday, reaching $89.88. 224,488 shares of the company traded hands, compared to its average volume of 600,252. The stock has a market capitalization of $2.95 billion, a PE ratio of 19.24 and a beta of 0.61. The company’s 50 day moving average is $70.92 and its 200-day moving average is $77.39. iShares MSCI Global Gold Miners ETF has a fifty-two week low of $52.29 and a fifty-two week high of $100.41.

iShares MSCI Global Gold Miners ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were given a $0.5264 dividend. The ex-dividend date of this dividend was Monday, June 15th.

Institutional Investors Weigh In On iShares MSCI Global Gold Miners ETF

Hedge funds have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its position in iShares MSCI Global Gold Miners ETF by 7.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,500 shares of the exchange traded fund’s stock worth $184,000 after purchasing an additional 178 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of iShares MSCI Global Gold Miners ETF in the second quarter valued at $42,000. Strategic Blueprint LLC boosted its position in shares of iShares MSCI Global Gold Miners ETF by 12.0% in the fourth quarter. Strategic Blueprint LLC now owns 6,543 shares of the exchange traded fund’s stock worth $482,000 after buying an additional 700 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of iShares MSCI Global Gold Miners ETF in the second quarter worth $100,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of iShares MSCI Global Gold Miners ETF during the fourth quarter valued at $218,000.

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.