Goldman Sachs Innovate Equity ETF (NYSEARCA:GINN) Sees Large Increase in Short Interest

Goldman Sachs Innovate Equity ETF (NYSEARCA:GINN) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 1,128 shares, a growth of 184.1% from the April 30th total of 397 shares. Based on an average daily trading volume, of 3,746 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company’s stock are short sold.

Goldman Sachs Innovate Equity ETF Price Performance

Shares of GINN stock traded up $0.39 during mid-day trading on Friday, hitting $80.03. The stock had a trading volume of 833 shares, compared to its average volume of 5,205. Goldman Sachs Innovate Equity ETF has a 12-month low of $62.47 and a 12-month high of $80.24. The firm has a market capitalization of $224.08 million, a P/E ratio of 23.29 and a beta of 1.14. The firm’s 50-day moving average is $73.66 and its two-hundred day moving average is $73.58.

Institutional Investors Weigh In On Goldman Sachs Innovate Equity ETF

Several hedge funds have recently made changes to their positions in GINN. Summa Corp. lifted its holdings in shares of Goldman Sachs Innovate Equity ETF by 960.7% in the 1st quarter. Summa Corp. now owns 35,533 shares of the company’s stock worth $2,427,000 after buying an additional 32,183 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Goldman Sachs Innovate Equity ETF during the 4th quarter valued at $1,347,000. Citadel Advisors LLC boosted its position in Goldman Sachs Innovate Equity ETF by 280.2% during the 3rd quarter. Citadel Advisors LLC now owns 23,692 shares of the company’s stock valued at $1,749,000 after acquiring an additional 17,461 shares in the last quarter. Flow Traders U.S. LLC boosted its position in Goldman Sachs Innovate Equity ETF by 253.9% during the 3rd quarter. Flow Traders U.S. LLC now owns 21,166 shares of the company’s stock valued at $1,563,000 after acquiring an additional 15,185 shares in the last quarter. Finally, Barclays PLC bought a new stake in Goldman Sachs Innovate Equity ETF during the 4th quarter valued at $392,000.

Goldman Sachs Innovate Equity ETF Company Profile

The Goldman Sachs Innovate Equity ETF (GINN) is an exchange-traded fund that is based on the Solactive Innovative Global Equity index. The fund selects companies globally, believed to benefit from technological innovation and changes in the economy across five themes: data, finance, human evolution, manufacturing, and shifts with consumers. GINN was launched on Nov 6, 2020 and is managed by Goldman Sachs.