iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Trading Down 7% – Time to Sell?

iShares MSCI Global Gold Miners ETF (NASDAQ:RING)’s stock price traded down 7% on Monday . The company traded as low as $73.50 and last traded at $73.1390. 133,595 shares traded hands during trading, a decline of 68% from the average session volume of 415,406 shares. The stock had previously closed at $78.62.

iShares MSCI Global Gold Miners ETF Price Performance

The company has a fifty day simple moving average of $67.52 and a 200-day simple moving average of $57.69. The company has a market cap of $2.91 billion, a P/E ratio of 19.24 and a beta of 0.50.

iShares MSCI Global Gold Miners ETF Announces Dividend

The business also recently declared a dividend, which was paid on Friday, December 19th. Investors of record on Tuesday, December 16th were given a $0.3775 dividend. The ex-dividend date was Tuesday, December 16th. This represents a dividend yield of 105.0%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RING. NewEdge Advisors LLC increased its position in shares of iShares MSCI Global Gold Miners ETF by 736.3% in the first quarter. NewEdge Advisors LLC now owns 11,290 shares of the exchange traded fund’s stock worth $433,000 after acquiring an additional 9,940 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of iShares MSCI Global Gold Miners ETF by 546.3% in the 1st quarter. Jones Financial Companies Lllp now owns 63,850 shares of the exchange traded fund’s stock valued at $2,715,000 after acquiring an additional 53,970 shares in the last quarter. Versant Capital Management Inc boosted its stake in iShares MSCI Global Gold Miners ETF by 1.2% in the 2nd quarter. Versant Capital Management Inc now owns 76,440 shares of the exchange traded fund’s stock worth $3,347,000 after purchasing an additional 942 shares during the period. Keystone Global Partners LLC grew its position in iShares MSCI Global Gold Miners ETF by 190.1% during the 2nd quarter. Keystone Global Partners LLC now owns 46,892 shares of the exchange traded fund’s stock worth $2,053,000 after purchasing an additional 30,727 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in iShares MSCI Global Gold Miners ETF during the 2nd quarter worth approximately $49,000.

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.