Global X Solar ETF (NASDAQ:RAYS) Short Interest Down 15.1% in April

Global X Solar ETF (NASDAQ:RAYS) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 10,700 shares, a decrease of 15.1% from the March 31st total of 12,600 shares. Based on an average daily trading volume, of 10,700 shares, the short-interest ratio is presently 1.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RAYS. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Global X Solar ETF during the third quarter worth approximately $3,665,000. Howe & Rusling Inc. grew its position in Global X Solar ETF by 51.4% in the 3rd quarter. Howe & Rusling Inc. now owns 20,312 shares of the company’s stock valued at $274,000 after buying an additional 6,900 shares during the last quarter. Finally, Albion Financial Group UT purchased a new stake in shares of Global X Solar ETF during the 1st quarter worth $49,000. Hedge funds and other institutional investors own 9.99% of the company’s stock.

Global X Solar ETF Trading Down 3.2 %

Shares of RAYS opened at $10.85 on Wednesday. The firm has a market capitalization of $6.18 million, a P/E ratio of -49.26 and a beta of 1.08. The firm has a 50-day moving average price of $11.46 and a 200 day moving average price of $11.76. Global X Solar ETF has a 12-month low of $10.15 and a 12-month high of $19.54.

About Global X Solar ETF

The Global X Solar ETF (RAYS) is an exchange-traded fund that is based on the Solactive Solar index, a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria. RAYS was launched on Sep 8, 2021 and is managed by Global X.