iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Short Interest Down 88.0% in November

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 278,700 shares, a drop of 88.0% from the October 31st total of 2,320,000 shares. Based on an average daily trading volume, of 418,400 shares, the days-to-cover ratio is currently 0.7 days.

iShares MSCI Global Gold Miners ETF Stock Down 0.1 %

Shares of RING traded down $0.04 during mid-day trading on Thursday, hitting $30.58. 36,019 shares of the company’s stock traded hands, compared to its average volume of 207,061. The firm has a market capitalization of $669.70 million, a P/E ratio of 28.50 and a beta of 0.75. The business’s 50-day moving average price is $32.74 and its 200-day moving average price is $30.81. iShares MSCI Global Gold Miners ETF has a 1 year low of $20.18 and a 1 year high of $36.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RING. E Fund Management Co. Ltd. lifted its position in shares of iShares MSCI Global Gold Miners ETF by 6.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 145,840 shares of the exchange traded fund’s stock worth $4,027,000 after purchasing an additional 8,739 shares during the period. Fisher Asset Management LLC bought a new position in iShares MSCI Global Gold Miners ETF in the third quarter worth about $245,000. Deane Retirement Strategies Inc. purchased a new stake in iShares MSCI Global Gold Miners ETF in the second quarter worth about $53,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in iShares MSCI Global Gold Miners ETF during the 2nd quarter valued at approximately $43,000.

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.