Global X MSCI Norway ETF (NYSEARCA:NORW) Sees Significant Drop in Short Interest

Global X MSCI Norway ETF (NYSEARCA:NORW) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 57,747 shares, a decline of 38.5% from the July 15th total of 93,878 shares. Based on an average trading volume of 24,474 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.3% of the shares of the company are sold short.

Global X MSCI Norway ETF Price Performance

Shares of Global X MSCI Norway ETF stock traded up $0.23 during trading hours on Wednesday, reaching $36.86. The company had a trading volume of 6,084 shares, compared to its average volume of 101,520. Global X MSCI Norway ETF has a one year low of $27.84 and a one year high of $39.39. The business has a fifty day simple moving average of $34.57 and a 200 day simple moving average of $36.03. The firm has a market cap of $92.15 million, a PE ratio of 12.35 and a beta of 0.69.

Hedge Funds Weigh In On Global X MSCI Norway ETF

Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in Global X MSCI Norway ETF by 1,576.1% in the first quarter. Royal Bank of Canada now owns 23,231 shares of the company’s stock worth $888,000 after acquiring an additional 21,845 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Global X MSCI Norway ETF during the 1st quarter valued at about $202,000. PNC Financial Services Group Inc. bought a new position in shares of Global X MSCI Norway ETF in the 1st quarter worth approximately $386,000. Geneos Wealth Management Inc. purchased a new position in shares of Global X MSCI Norway ETF in the first quarter worth approximately $2,148,000. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of Global X MSCI Norway ETF during the 1st quarter valued at approximately $80,000.

Global X MSCI Norway ETF Company Profile

The Global X MSCI Norway ETF (NORW) is an exchange-traded fund that is based on the MSCI Norway IMI 25\u002F50 index, a market-cap-weighted index of Norwegian stocks. NORW was launched on Nov 9, 2010 and is managed by Global X.