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

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the recipient of a significant growth in short interest in 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

RING traded down $0.63 on Friday, reaching $33.95. 338,749 shares of the company traded hands, compared to its average volume of 185,833. The stock’s 50 day moving average price is $33.10 and its 200-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 cap 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

A number of institutional investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new stake in iShares MSCI Global Gold Miners ETF in the second quarter valued at approximately $43,000. E Fund Management Co. Ltd. lifted its stake in iShares MSCI Global Gold Miners ETF by 6.4% in the second 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 during the last quarter. Deane Retirement Strategies Inc. acquired a new stake in iShares MSCI Global Gold Miners ETF in the second quarter valued at approximately $53,000. OLD Mission Capital LLC lifted its stake in iShares MSCI Global Gold Miners ETF by 88.9% in 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 acquiring an additional 285,006 shares during the last quarter. Finally, Family Firm Inc. lifted its stake in 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 valued at $864,000 after acquiring an additional 527 shares during 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.