Global X Renewable Energy Producers ETF (NASDAQ:RNRG) Stock Price Down 1.9% – Should You Sell?

Global X Renewable Energy Producers ETF (NASDAQ:RNRG)’s stock price was down 1.9% during trading on Friday. The stock traded as low as $28.88 and last traded at $29.9840. 3,961 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 5,070 shares. The stock had previously closed at $30.56.

Global X Renewable Energy Producers ETF Stock Performance

The company has a market cap of $21.89 million, a P/E ratio of 15.93 and a beta of 0.85. The stock’s fifty day moving average price is $32.62 and its two-hundred day moving average price is $35.54.

Hedge Funds Weigh In On Global X Renewable Energy Producers ETF

Several hedge funds and other institutional investors have recently modified their holdings of RNRG. Integrated Wealth Concepts LLC acquired a new stake in Global X Renewable Energy Producers ETF in the second quarter valued at about $69,000. Natural Investments LLC grew its position in Global X Renewable Energy Producers ETF by 7.5% in the second quarter. Natural Investments LLC now owns 32,048 shares of the company’s stock valued at $1,141,000 after acquiring an additional 2,229 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new position in Global X Renewable Energy Producers ETF in the second quarter valued at about $3,358,000.

Global X Renewable Energy Producers ETF Company Profile

The Global X Renewable Energy Producers ETF (RNRG) is an exchange-traded fund that is based on the Indxx Renewable Energy Producers index, a market-cap-weighted index of global renewable energy companies including YieldCos. RNRG was launched on May 28, 2015 and is managed by Global X.