American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) Sees Significant Drop in Short Interest

American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 3,644 shares, a drop of 49.6% from the November 30th total of 7,226 shares. Based on an average daily trading volume, of 74,029 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the company’s shares are short sold. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 74,029 shares, the days-to-cover ratio is currently 0.0 days.

American Beacon GLG Natural Resources ETF Stock Performance

Shares of NYSEARCA:MGNR traded down $0.66 during mid-day trading on Monday, hitting $44.24. The stock had a trading volume of 21,274 shares, compared to its average volume of 39,608. The company has a market cap of $311.89 million, a PE ratio of 22.05 and a beta of 0.89. American Beacon GLG Natural Resources ETF has a 12-month low of $24.79 and a 12-month high of $45.04. The company’s 50 day moving average is $42.06 and its 200-day moving average is $38.09.

Hedge Funds Weigh In On American Beacon GLG Natural Resources ETF

A number of large investors have recently made changes to their positions in MGNR. Midland Wealth Advisors LLC acquired a new stake in shares of American Beacon GLG Natural Resources ETF in the third quarter worth about $46,234,000. Sendero Wealth Management LLC raised its stake in shares of American Beacon GLG Natural Resources ETF by 21.1% in the 2nd quarter. Sendero Wealth Management LLC now owns 912,866 shares of the company’s stock valued at $30,327,000 after acquiring an additional 158,771 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in American Beacon GLG Natural Resources ETF in the 2nd quarter worth approximately $3,185,000. NewEdge Advisors LLC boosted its position in American Beacon GLG Natural Resources ETF by 123.7% during the third quarter. NewEdge Advisors LLC now owns 145,280 shares of the company’s stock worth $5,877,000 after purchasing an additional 80,336 shares during the period. Finally, CW Advisors LLC grew its holdings in American Beacon GLG Natural Resources ETF by 87.4% during the second quarter. CW Advisors LLC now owns 98,064 shares of the company’s stock valued at $3,258,000 after purchasing an additional 45,748 shares during the last quarter.

About American Beacon GLG Natural Resources ETF

The American Beacon GLG Natural Resources ETF (MGNR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is actively managed, seeking long-term capital appreciation through investments in a narrow portfolio of global stocks that are predominantly involved in natural resources and related businesses. MGNR was launched on Feb 5, 2024 and is issued by American Beacon.