iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Sets New 1-Year High – Should You Buy?

Shares of iShares MSCI Global Gold Miners ETF (NASDAQ:RING) reached a new 52-week high during trading on Thursday . The stock traded as high as $38.21 and last traded at $38.17, with a volume of 275012 shares changing hands. The stock had previously closed at $37.32.

iShares MSCI Global Gold Miners ETF Stock Performance

The company has a market cap of $1.17 billion, a PE ratio of 19.05 and a beta of 0.75. The business’s 50-day moving average is $34.37 and its 200 day moving average is $32.51.

Institutional Investors Weigh In On iShares MSCI Global Gold Miners ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in shares of iShares MSCI Global Gold Miners ETF in the fourth quarter worth approximately $6,052,000. Bearing Point Capital LLC bought a new position in shares of iShares MSCI Global Gold Miners ETF in the 4th quarter worth approximately $2,556,000. Climber Capital SA purchased a new position in iShares MSCI Global Gold Miners ETF during the fourth quarter valued at $1,821,000. Versant Capital Management Inc boosted its stake in iShares MSCI Global Gold Miners ETF by 15.4% during the fourth quarter. Versant Capital Management Inc now owns 76,541 shares of the exchange traded fund’s stock worth $2,152,000 after acquiring an additional 10,209 shares in the last quarter. Finally, Family Firm Inc. grew its stake in shares of iShares MSCI Global Gold Miners ETF by 28.2% in the 4th quarter. Family Firm Inc. now owns 42,173 shares of the exchange traded fund’s stock worth $1,185,000 after buying an additional 9,276 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.