iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Sees Significant Drop in Short Interest

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 609,234 shares, a decline of 41.6% from the August 31st total of 1,043,832 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 834,193 shares, the short-interest ratio is presently 0.7 days.

iShares MSCI Global Gold Miners ETF Price Performance

NASDAQ RING remained flat at $75.93 during trading hours on Friday. 121,984 shares of the company’s stock were exchanged, compared to its average volume of 608,087. iShares MSCI Global Gold Miners ETF has a 12-month low of $58.21 and a 12-month high of $100.41. The stock has a market capitalization of $2.30 billion, a PE ratio of 19.24 and a beta of 0.67. The stock has a 50 day simple moving average of $80.10 and a 200 day simple moving average of $76.20.

Institutional Investors Weigh In On iShares MSCI Global Gold Miners ETF

A number of institutional investors have recently modified their holdings of the stock. Syon Capital LLC boosted its holdings in shares of iShares MSCI Global Gold Miners ETF by 53.5% in the 2nd quarter. Syon Capital LLC now owns 187,958 shares of the exchange traded fund’s stock valued at $12,142,000 after buying an additional 65,538 shares during the period. Janney Montgomery Scott LLC acquired a new stake in iShares MSCI Global Gold Miners ETF during the first quarter worth about $1,290,000. Allied Private Wealth LLC acquired a new stake in iShares MSCI Global Gold Miners ETF during the second quarter worth about $355,000. Finally, Trust Co. of Vermont bought a new position in iShares MSCI Global Gold Miners ETF in the second quarter worth about $42,000.

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.