Short Interest in iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Drops By 82.4%

iShares MSCI Global Gold Miners ETF (NASDAQ:RINGGet Rating) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 3,900 shares, a drop of 82.4% from the April 30th total of 22,200 shares. Based on an average daily trading volume, of 174,300 shares, the days-to-cover ratio is presently 0.0 days.

A number of hedge funds have recently modified their holdings of RING. Municipal Employees Retirement System of Michigan increased its holdings in iShares MSCI Global Gold Miners ETF by 4.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 2,644,770 shares of the exchange traded fund’s stock valued at $82,120,000 after buying an additional 121,649 shares during the period. Madison Asset Management LLC increased its stake in iShares MSCI Global Gold Miners ETF by 62.6% in the fourth quarter. Madison Asset Management LLC now owns 822,453 shares of the exchange traded fund’s stock valued at $22,182,000 after acquiring an additional 316,521 shares during the period. OLD Mission Capital LLC acquired a new position in iShares MSCI Global Gold Miners ETF in the third quarter worth about $4,386,000. Janney Montgomery Scott LLC lifted its stake in iShares MSCI Global Gold Miners ETF by 9.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 66,350 shares of the exchange traded fund’s stock worth $1,789,000 after purchasing an additional 5,668 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in iShares MSCI Global Gold Miners ETF by 244.5% during the fourth quarter. Versant Capital Management Inc now owns 34,429 shares of the exchange traded fund’s stock valued at $929,000 after purchasing an additional 24,435 shares in the last quarter.

Shares of NASDAQ:RING traded down $0.10 during trading on Wednesday, hitting $26.42. 639 shares of the stock were exchanged, compared to its average volume of 157,343. iShares MSCI Global Gold Miners ETF has a 1-year low of $23.91 and a 1-year high of $33.67. The company’s fifty day simple moving average is $29.31 and its 200-day simple moving average is $27.91.

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