iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Short Interest Down 40.2% in March

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 shares of the company are sold short. Based on an average trading volume of 292,000 shares, the short-interest ratio is presently 1.2 days.

Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new position in iShares MSCI Global Gold Miners ETF in the fourth quarter worth approximately $6,052,000. Bearing Point Capital LLC purchased a new position in shares of iShares MSCI Global Gold Miners ETF during the 4th quarter worth approximately $2,556,000. Climber Capital SA acquired a new stake in iShares MSCI Global Gold Miners ETF in the 4th quarter valued at approximately $1,821,000. Versant Capital Management Inc raised its position in iShares MSCI Global Gold Miners ETF by 15.4% in the fourth quarter. Versant Capital Management Inc now owns 76,541 shares of the exchange traded fund’s stock valued at $2,152,000 after purchasing an additional 10,209 shares during the period. Finally, Family Firm Inc. lifted its stake 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 in the last quarter.

iShares MSCI Global Gold Miners ETF Price Performance

NASDAQ:RING opened at $38.10 on Monday. The company has a 50 day moving average price of $34.37 and a 200-day moving average price of $32.53. iShares MSCI Global Gold Miners ETF has a 1-year low of $25.41 and a 1-year high of $39.22. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 19.05 and a beta of 0.75.

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.