Global X Silver Miners ETF (NYSEARCA:SIL) Short Interest Down 42.9% in April

Global X Silver Miners ETF (NYSEARCA:SIL) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 1,557,309 shares, a drop of 42.9% from the April 15th total of 2,726,373 shares. Based on an average daily trading volume, of 1,756,465 shares, the short-interest ratio is presently 0.9 days. Currently, 2.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Global X Silver Miners ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC boosted its holdings in Global X Silver Miners ETF by 204.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 323 shares of the company’s stock worth $27,000 after buying an additional 217 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Global X Silver Miners ETF by 133.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 350 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Root Financial Partners LLC bought a new position in Global X Silver Miners ETF during the third quarter worth about $27,000. Sound Income Strategies LLC boosted its holdings in Global X Silver Miners ETF by 428.8% during the first quarter. Sound Income Strategies LLC now owns 386 shares of the company’s stock worth $36,000 after buying an additional 313 shares during the last quarter. Finally, Evelyn Partners Investment Management LLP acquired a new stake in shares of Global X Silver Miners ETF during the fourth quarter worth about $32,000.

Global X Silver Miners ETF Stock Performance

SIL traded down $0.99 during midday trading on Monday, reaching $90.61. 1,883,396 shares of the company were exchanged, compared to its average volume of 3,252,257. Global X Silver Miners ETF has a one year low of $39.39 and a one year high of $119.24. The stock has a market capitalization of $5.42 billion, a P/E ratio of 32.07 and a beta of 0.78. The stock’s 50-day simple moving average is $93.57 and its 200 day simple moving average is $90.04.

About Global X Silver Miners ETF

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.