iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Reaches New 1-Year High – Time to Buy?

Shares of iShares MSCI Global Gold Miners ETF (NASDAQ:RING) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $35.29 and last traded at $35.16, with a volume of 60823 shares. The stock had previously closed at $34.51.

iShares MSCI Global Gold Miners ETF Stock Up 3.6 %

The stock’s 50-day simple moving average is $32.57 and its two-hundred day simple moving average is $29.73. The company has a market capitalization of $652.26 million, a price-to-earnings ratio of 28.50 and a beta of 0.75.

Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in iShares MSCI Global Gold Miners ETF during the 2nd quarter worth $43,000. Deane Retirement Strategies Inc. acquired a new position in iShares MSCI Global Gold Miners ETF in the 2nd quarter valued at about $53,000. Family Firm Inc. raised its stake in iShares MSCI Global Gold Miners ETF by 1.6% during the 1st quarter. Family Firm Inc. now owns 34,170 shares of the exchange traded fund’s stock valued at $864,000 after acquiring an additional 527 shares during the last quarter. E Fund Management Co. Ltd. lifted its position 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 worth $4,027,000 after acquiring an additional 8,739 shares during the period. Finally, OLD Mission Capital LLC grew its stake in shares of iShares MSCI Global Gold Miners ETF by 88.9% in the 1st quarter. OLD Mission Capital LLC now owns 605,567 shares of the exchange traded fund’s stock valued at $15,315,000 after purchasing an additional 285,006 shares during the last quarter.

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.