iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Sees Significant Growth in Short Interest

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 976,100 shares, a growth of 1,233.5% from the September 30th total of 73,200 shares. Based on an average daily volume of 335,200 shares, the short-interest ratio is currently 2.9 days.

iShares MSCI Global Gold Miners ETF Price Performance

NASDAQ RING traded down $0.63 on Friday, hitting $33.95. 338,749 shares of the stock were exchanged, compared to its average volume of 185,833. The company’s 50-day moving average price is $33.10 and its two-hundred day moving average price is $30.12. iShares MSCI Global Gold Miners ETF has a 52-week low of $20.18 and a 52-week high of $36.50. The company has a market capitalization of $653.54 million, a price-to-earnings ratio of 28.50 and a beta of 0.75.

Institutional Trading of iShares MSCI Global Gold Miners ETF

Several hedge funds and other institutional investors have recently modified their holdings of RING. OLD Mission Capital LLC raised its position in iShares MSCI Global Gold Miners ETF by 88.9% during the first quarter. OLD Mission Capital LLC now owns 605,567 shares of the exchange traded fund’s stock valued at $15,315,000 after buying an additional 285,006 shares during the period. E Fund Management Co. Ltd. grew its stake in iShares MSCI Global Gold Miners ETF by 6.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 145,840 shares of the exchange traded fund’s stock valued at $4,027,000 after acquiring an additional 8,739 shares in the last quarter. Deane Retirement Strategies Inc. acquired a new position in shares of iShares MSCI Global Gold Miners ETF in the 2nd quarter valued at about $53,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of iShares MSCI Global Gold Miners ETF in the 2nd quarter valued at about $43,000. Finally, Family Firm Inc. lifted its position in shares of iShares MSCI Global Gold Miners ETF by 1.6% in the first quarter. Family Firm Inc. now owns 34,170 shares of the exchange traded fund’s stock worth $864,000 after purchasing an additional 527 shares in the last quarter.

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.