iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Sees Large Decline in Short Interest

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 350,100 shares, a drop of 40.2% from the February 28th total of 585,800 shares. Based on an average daily trading volume, of 292,000 shares, the short-interest ratio is presently 1.2 days. Currently, 1.1% of the company’s shares are sold short.

Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in iShares MSCI Global Gold Miners ETF by 28.0% in the fourth quarter. Jones Financial Companies Lllp now owns 9,880 shares of the exchange traded fund’s stock valued at $278,000 after acquiring an additional 2,162 shares during the period. Wintrust Investments LLC acquired a new position in shares of iShares MSCI Global Gold Miners ETF in the fourth quarter valued at approximately $93,000. Fisher Asset Management LLC bought a new stake in iShares MSCI Global Gold Miners ETF in the 3rd quarter valued at $245,000. Family Firm Inc. lifted its position in iShares MSCI Global Gold Miners ETF by 28.2% in the 4th quarter. Family Firm Inc. now owns 42,173 shares of the exchange traded fund’s stock valued at $1,185,000 after acquiring an additional 9,276 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in iShares MSCI Global Gold Miners ETF by 15.4% in the 4th quarter. Versant Capital Management Inc now owns 76,541 shares of the exchange traded fund’s stock worth $2,152,000 after purchasing an additional 10,209 shares during the period.

iShares MSCI Global Gold Miners ETF Price Performance

Shares of iShares MSCI Global Gold Miners ETF stock traded down $0.07 during trading on Friday, hitting $38.10. 288,597 shares of the company were exchanged, compared to its average volume of 254,599. The firm has a market capitalization of $1.17 billion, a P/E ratio of 19.05 and a beta of 0.75. The firm’s fifty day moving average price is $34.37 and its 200 day moving average price is $32.52. iShares MSCI Global Gold Miners ETF has a 1-year low of $25.41 and a 1-year high of $39.22.

iShares MSCI Global Gold Miners ETF Company Profile

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.