Global X Solar ETF (NASDAQ:RAYS) Trading 4.1% Higher – Still a Buy?

Global X Solar ETF (NASDAQ:RAYS)’s stock price traded up 4.1% during mid-day trading on Thursday . The stock traded as high as $8.46 and last traded at $8.46. 909 shares traded hands during trading, a decline of 89% from the average session volume of 8,598 shares. The stock had previously closed at $8.13.

Global X Solar ETF Price Performance

The firm has a market cap of $4.23 million, a P/E ratio of -38.41 and a beta of 1.03. The company has a fifty day moving average of $8.30 and a 200-day moving average of $9.15.

Hedge Funds Weigh In On Global X Solar ETF

An institutional investor recently raised its position in Global X Solar ETF stock. Jane Street Group LLC lifted its position in shares of Global X Solar ETF (NASDAQ:RAYS) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,020 shares of the company’s stock after acquiring an additional 4,717 shares during the quarter. Jane Street Group LLC owned approximately 2.46% of Global X Solar ETF worth $183,000 at the end of the most recent quarter. 9.99% of the stock is currently owned by institutional investors.

Global X Solar ETF Company Profile

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.