iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Reaches New 1-Year High – Time to Buy?

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $38.21 and last traded at $38.17, with a volume of 275012 shares traded. The stock had previously closed at $37.32.

iShares MSCI Global Gold Miners ETF Price Performance

The company has a market cap of $1.18 billion, a P/E ratio of 16.74 and a beta of 0.75. The stock has a 50-day moving average of $34.06 and a 200 day moving average of $32.42.

Institutional Trading of iShares MSCI Global Gold Miners ETF

A number of institutional investors and hedge funds have recently made changes to their positions in RING. JPMorgan Chase & Co. acquired a new stake in iShares MSCI Global Gold Miners ETF in the fourth quarter valued at about $6,052,000. Bearing Point Capital LLC acquired a new stake in shares of iShares MSCI Global Gold Miners ETF in the 4th quarter valued at approximately $2,556,000. Climber Capital SA bought a new stake in shares of iShares MSCI Global Gold Miners ETF during the 4th quarter valued at approximately $1,821,000. Versant Capital Management Inc increased its holdings in shares of iShares MSCI Global Gold Miners ETF by 15.4% during the fourth quarter. Versant Capital Management Inc now owns 76,541 shares of the exchange traded fund’s stock worth $2,152,000 after buying an additional 10,209 shares in the last quarter. Finally, Family Firm Inc. increased its holdings in iShares MSCI Global Gold Miners ETF by 28.2% in the 4th quarter. Family Firm Inc. now owns 42,173 shares of the exchange traded fund’s stock worth $1,185,000 after purchasing an additional 9,276 shares in the last quarter.

About iShares MSCI Global Gold Miners ETF

The iShares MSCI Global Gold Miners ETF (RING) is an exchange-traded fund that is based on the MSCI ACWI Select Gold Miners IMI index, a market-cap-weighted index of companies that generate revenue primarily from gold mining. RING was launched on Jan 31, 2012 and is managed by BlackRock.