Global X Gold Explorers ETF (NYSEARCA:GOEX) Sees Large Growth in Short Interest

Global X Gold Explorers ETF (NYSEARCA:GOEX) was the target of a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 99,277 shares, an increase of 941.7% from the October 15th total of 9,530 shares. Based on an average daily volume of 3,876 shares, the short-interest ratio is presently 25.6 days. Approximately 6.8% of the company’s shares are sold short.

Global X Gold Explorers ETF Stock Down 4.8%

NYSEARCA GOEX traded down $3.69 on Thursday, reaching $73.50. The company had a trading volume of 5,407 shares, compared to its average volume of 22,223. The stock’s 50 day moving average is $82.32 and its 200-day moving average is $83.53. The stock has a market cap of $107.31 million, a price-to-earnings ratio of 20.37 and a beta of 0.89. Global X Gold Explorers ETF has a 52 week low of $64.45 and a 52 week high of $110.19.

Hedge Funds Weigh In On Global X Gold Explorers ETF

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in shares of Global X Gold Explorers ETF by 7.5% in the 1st quarter. NewEdge Advisors LLC now owns 147,094 shares of the company’s stock valued at $12,449,000 after acquiring an additional 10,263 shares during the period. Kestra Advisory Services LLC grew its holdings in Global X Gold Explorers ETF by 59.7% during the third quarter. Kestra Advisory Services LLC now owns 7,148 shares of the company’s stock valued at $594,000 after purchasing an additional 2,673 shares during the period. Cetera Investment Advisers increased its stake in Global X Gold Explorers ETF by 13.5% in the first quarter. Cetera Investment Advisers now owns 5,672 shares of the company’s stock valued at $480,000 after purchasing an additional 675 shares in the last quarter. HighTower Advisors LLC bought a new stake in Global X Gold Explorers ETF in the third quarter valued at approximately $344,000. Finally, Cibc World Market Inc. bought a new stake in Global X Gold Explorers ETF in the third quarter valued at approximately $298,000.

Global X Gold Explorers ETF Company Profile

The Global X Gold Explorers ETF (GOEX) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of global stocks in the gold mining industry as an explorer or developer. GOEX was launched on Nov 3, 2010 and is managed by Global X.