Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM) Stock Short Interest Jumps 176.9%

Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 348,453 shares, an increase of 176.9% from the September 30th total of 125,851 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 208,720 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 108.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,127,532 shares of the company’s stock valued at $162,632,000 after acquiring an additional 1,627,669 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 142.2% during the 1st quarter. NewEdge Advisors LLC now owns 55,062 shares of the company’s stock valued at $2,379,000 after purchasing an additional 32,330 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 82.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 394,433 shares of the company’s stock valued at $20,511,000 after purchasing an additional 178,228 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 8.3% in the 1st quarter. Anchor Investment Management LLC now owns 131,190 shares of the company’s stock worth $5,667,000 after purchasing an additional 10,017 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 14.3% in the 1st quarter. Bank of America Corp DE now owns 673,297 shares of the company’s stock worth $29,086,000 after purchasing an additional 84,456 shares during the last quarter.

Goldman Sachs ActiveBeta Emerging Markets Equity ETF Stock Performance

Shares of GEM stock traded down $0.63 during mid-day trading on Thursday, hitting $47.95. 72,139 shares of the stock traded hands, compared to its average volume of 136,925. Goldman Sachs ActiveBeta Emerging Markets Equity ETF has a twelve month low of $40.18 and a twelve month high of $54.29. The company’s 50-day simple moving average is $50.66 and its 200-day simple moving average is $48.57. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 13.33 and a beta of 0.71.

Goldman Sachs ActiveBeta Emerging Markets Equity ETF Company Profile

The Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of emerging market stocks comprising 4 sub-indexes: value, momentum, quality, and low volatility. The index uses multiple factors to pick stocks, and each sub-index receives equal weight. GEM was launched on Sep 29, 2015 and is managed by Goldman Sachs.