Short Interest in Range Global Coal Index ETF (NYSEARCA:COAL) Declines By 85.4%

Range Global Coal Index ETF (NYSEARCA:COAL) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 6,124 shares, a drop of 85.4% from the April 30th total of 42,022 shares. Based on an average daily trading volume, of 61,582 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the shares of the company are short sold.

Range Global Coal Index ETF Price Performance

Shares of COAL stock traded up $0.08 on Thursday, hitting $26.66. 16,531 shares of the stock traded hands, compared to its average volume of 123,488. Range Global Coal Index ETF has a 52 week low of $16.59 and a 52 week high of $29.10. The firm has a 50 day simple moving average of $26.13 and a two-hundred day simple moving average of $24.97. The firm has a market cap of $76.51 million, a price-to-earnings ratio of 8.14 and a beta of 0.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in shares of Range Global Coal Index ETF in the second quarter worth about $500,000. Citadel Advisors LLC increased its stake in Range Global Coal Index ETF by 153.9% in the 3rd quarter. Citadel Advisors LLC now owns 46,503 shares of the company’s stock worth $1,037,000 after acquiring an additional 28,188 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Range Global Coal Index ETF in the 1st quarter worth approximately $650,000. Cetera Investment Advisers purchased a new stake in shares of Range Global Coal Index ETF during the 1st quarter worth approximately $577,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Range Global Coal Index ETF during the 1st quarter worth approximately $435,000.

About Range Global Coal Index ETF

The Range Global Coal Index ETF (COAL) is an exchange-traded fund that is based on the Range Global Coal index. The fund is designed to replicate the performance of a market-cap weighted index comprising global stocks primarily involved in the coal industry, including those engaged in coal production and logistics. COAL was launched on Jan 23, 2024 and is issued by Range.