Short Interest in Global X Solar ETF (NASDAQ:RAYS) Drops By 38.6%

Global X Solar ETF (NASDAQ:RAYS) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,700 shares, a decline of 38.6% from the March 15th total of 4,400 shares. Based on an average daily volume of 12,000 shares, the short-interest ratio is currently 0.2 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Investors Weigh In On Global X Solar ETF

A hedge fund recently raised its stake in Global X Solar ETF stock. Jane Street Group LLC boosted its position in shares of Global X Solar ETF (NASDAQ:RAYS) by 41.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,020 shares of the company’s stock after purchasing an additional 4,717 shares during the period. Jane Street Group LLC owned about 2.46% of Global X Solar ETF worth $183,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.99% of the company’s stock.

Global X Solar ETF Stock Performance

NASDAQ RAYS traded up $0.06 during trading hours on Friday, reaching $7.74. 1,003 shares of the company’s stock were exchanged, compared to its average volume of 8,606. The company has a market capitalization of $3.87 million, a price-to-earnings ratio of -35.16 and a beta of 1.08. The company’s 50-day moving average is $8.65 and its two-hundred day moving average is $9.46. Global X Solar ETF has a one year low of $7.12 and a one year high of $12.63.

About Global X Solar ETF

The Global X Solar ETF (RAYS) is an exchange-traded fund that is based on the Solactive Solar index, a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria. RAYS was launched on Sep 8, 2021 and is managed by Global X.