Global X Solar ETF (NASDAQ:RAYS) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

Global X Solar ETF (NASDAQ:RAYS) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $10.52 and traded as high as $10.58. Global X Solar ETF shares last traded at $10.39, with a volume of 29,516 shares traded.

Global X Solar ETF Trading Up 5.4 %

The firm has a market capitalization of $6.75 million, a price-to-earnings ratio of -47.18 and a beta of 1.08. The stock has a fifty day moving average of $10.52 and a 200-day moving average of $10.38.

Hedge Funds Weigh In On Global X Solar ETF

An institutional investor recently raised its position in Global X Solar ETF stock. Jane Street Group LLC increased its stake in Global X Solar ETF (NASDAQ:RAYS) by 41.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,020 shares of the company’s stock after acquiring 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. 9.99% of the stock is currently owned by institutional investors and hedge funds.

Global X Solar ETF Company Profile

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.