Global X MSCI Greece ETF (NYSEARCA:GREK) Sees Large Drop in Short Interest

Global X MSCI Greece ETF (NYSEARCA:GREK) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 166,967 shares, a decrease of 36.9% from the June 30th total of 264,445 shares. Based on an average trading volume of 121,518 shares, the days-to-cover ratio is currently 1.4 days. Currently, 4.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GREK. Group One Trading LLC purchased a new stake in shares of Global X MSCI Greece ETF in the fourth quarter worth about $31,000. Cassaday & Co Wealth Management LLC purchased a new position in Global X MSCI Greece ETF during the 1st quarter valued at approximately $35,000. Triumph Capital Management purchased a new position in Global X MSCI Greece ETF during the 3rd quarter valued at approximately $59,000. IFP Advisors Inc bought a new stake in Global X MSCI Greece ETF in the 3rd quarter worth approximately $80,000. Finally, Bank of America Corp DE increased its stake in Global X MSCI Greece ETF by 264.6% in the 2nd quarter. Bank of America Corp DE now owns 1,688 shares of the exchange traded fund’s stock worth $98,000 after acquiring an additional 1,225 shares during the last quarter.

Global X MSCI Greece ETF Stock Up 2.8%

NYSEARCA GREK traded up $2.19 on Thursday, reaching $80.71. The company had a trading volume of 79,199 shares, compared to its average volume of 118,791. The stock has a market capitalization of $301.86 million, a PE ratio of 10.65 and a beta of 0.70. The firm’s 50 day moving average price is $75.46 and its 200 day moving average price is $71.67. Global X MSCI Greece ETF has a 12 month low of $60.00 and a 12 month high of $80.71.

Global X MSCI Greece ETF Company Profile

The Global X MSCI Greece ETF (GREK) is an exchange-traded fund that is based on the MSCI All Greece Select 25-50 index, a market-cap-weighted index of about 15 Greek firms. GREK was launched on Dec 7, 2011 and is managed by Global X.