Global X MSCI Norway ETF (NYSEARCA:NORW) Sees Large Decline in Short Interest

Global X MSCI Norway ETF (NYSEARCA:NORW) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 60,743 shares, a drop of 41.1% from the August 31st total of 103,089 shares. Based on an average trading volume of 25,406 shares, the short-interest ratio is currently 2.4 days. Approximately 2.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Global X MSCI Norway ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Global X MSCI Norway ETF by 1,576.1% in the first quarter. Royal Bank of Canada now owns 23,231 shares of the company’s stock worth $888,000 after buying an additional 21,845 shares in the last quarter. Cetera Investment Advisers bought a new position in Global X MSCI Norway ETF during the first quarter valued at $202,000. PNC Financial Services Group Inc. bought a new position in Global X MSCI Norway ETF during the 1st quarter valued at about $386,000. Geneos Wealth Management Inc. purchased a new stake in shares of Global X MSCI Norway ETF in the first quarter worth approximately $2,148,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in Global X MSCI Norway ETF in the first quarter worth $80,000.

Global X MSCI Norway ETF Stock Up 0.4%

NORW traded up $0.15 during midday trading on Friday, reaching $35.33. The company had a trading volume of 9,610 shares, compared to its average volume of 88,628. Global X MSCI Norway ETF has a 1 year low of $27.84 and a 1 year high of $39.39. The company has a market cap of $91.15 million, a P/E ratio of 12.35 and a beta of 0.70. The business has a 50-day moving average of $36.43 and a two-hundred day moving average of $36.54.

Global X MSCI Norway ETF Company Profile

The Global X MSCI Norway ETF (NORW) is an exchange-traded fund that is based on the MSCI Norway IMI 25\u002F50 index, a market-cap-weighted index of Norwegian stocks. NORW was launched on Nov 9, 2010 and is managed by Global X.