Global X Solar ETF (NASDAQ:RAYS) Short Interest Update

Global X Solar ETF (NASDAQ:RAYS) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 6,300 shares, a drop of 33.7% from the October 31st total of 9,500 shares. Based on an average daily volume of 7,100 shares, the days-to-cover ratio is currently 0.9 days.

Global X Solar ETF Price Performance

Shares of Global X Solar ETF stock traded up $0.07 during trading on Friday, hitting $10.24. 1,435 shares of the stock were exchanged, compared to its average volume of 8,508. The stock has a market cap of $6.66 million, a price-to-earnings ratio of -46.49 and a beta of 1.08. The firm’s 50-day moving average price is $10.57 and its 200 day moving average price is $10.43. Global X Solar ETF has a 12-month low of $9.27 and a 12-month high of $13.63.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Global X Solar ETF stock. Jane Street Group LLC increased its holdings in shares of Global X Solar ETF (NASDAQ:RAYS) by 41.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,020 shares of the company’s stock after purchasing an additional 4,717 shares during the quarter. Jane Street Group LLC owned approximately 2.46% of Global X Solar ETF worth $183,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.99% of the company’s stock.

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.