iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Sets New 52-Week High – Still a Buy?

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

iShares MSCI Global Gold Miners ETF Stock Up 2.3 %

The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 16.74 and a beta of 0.75. The stock’s 50-day moving average price is $34.06 and its 200 day moving average price is $32.42.

Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF

A number of institutional investors and hedge funds have recently bought and sold shares of RING. Bearing Point Capital LLC bought a new stake in iShares MSCI Global Gold Miners ETF in the fourth quarter valued at about $2,556,000. Climber Capital SA acquired a new stake in iShares MSCI Global Gold Miners ETF in the 4th quarter valued at $1,821,000. JPMorgan Chase & Co. bought a new position in shares of iShares MSCI Global Gold Miners ETF in the fourth quarter valued at $6,052,000. Family Firm Inc. grew its holdings in iShares MSCI Global Gold Miners ETF by 28.2% during the fourth 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 during the period. Finally, Wintrust Investments LLC acquired a new position in shares of iShares MSCI Global Gold Miners ETF during the 4th quarter worth approximately $93,000.

iShares MSCI Global Gold Miners ETF Company Profile

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.