iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Sees Large Drop in Short Interest

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 350,100 shares, a drop of 40.2% from the February 28th total of 585,800 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 292,000 shares, the short-interest ratio is presently 1.2 days.

iShares MSCI Global Gold Miners ETF Price Performance

Shares of NASDAQ RING opened at $38.10 on Monday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 19.05 and a beta of 0.75. The stock’s 50-day moving average is $34.37 and its two-hundred day moving average is $32.53. iShares MSCI Global Gold Miners ETF has a 1-year low of $25.41 and a 1-year high of $39.22.

Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF

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