iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Stock Short Interest Declines 54.8%

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 387,313 shares, a drop of 54.8% from the September 30th total of 856,596 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 332,642 shares, the days-to-cover ratio is currently 1.2 days.

iShares MSCI Global Gold Miners ETF Stock Performance

NASDAQ RING traded down $3.97 during trading hours on Friday, hitting $66.88. The company had a trading volume of 264,555 shares, compared to its average volume of 585,661. The business has a 50 day moving average of $80.70 and a 200-day moving average of $78.67. iShares MSCI Global Gold Miners ETF has a 1-year low of $58.23 and a 1-year high of $100.41. The company has a market cap of $2.04 billion, a PE ratio of 19.24 and a beta of 0.65.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in iShares MSCI Global Gold Miners ETF by 135.9% in the third quarter. Farther Finance Advisors LLC now owns 361 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 208 shares during the period. Trust Co. of Vermont purchased a new position in iShares MSCI Global Gold Miners ETF in the second quarter valued at about $42,000. Hanson & Doremus Investment Management acquired a new position in shares of iShares MSCI Global Gold Miners ETF during the third quarter worth about $99,000. Prism Advisors Inc. acquired a new position in shares of iShares MSCI Global Gold Miners ETF during the third quarter worth about $211,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of iShares MSCI Global Gold Miners ETF in the third quarter worth about $244,000.

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.