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Market Vector Russia ETF Trust (NYSE:RSX) was downgraded by HSBC from a “neutral” rating to an “underweight” rating in a research note issued on Wednesday, ARN reports.

Shares of Market Vector Russia ETF Trust (NYSE:RSX) traded up 0.77% on Wednesday, hitting $23.62. 7,094,051 shares of the company’s stock traded hands. Market Vector Russia ETF Trust has a 52-week low of $20.86 and a 52-week high of $30.25. The stock has a 50-day moving average of $23. and a 200-day moving average of $26.88. Market Vector Russia ETF Trust also was the target of a large growth in short interest in January. As of March 14th, there was short interest totalling 14,537,174 shares, a growth of 57.3% from the February 28th total of 9,241,186 shares. Based on an average daily trading volume, of 11,163,405 shares, the short-interest ratio is presently 1.3 days. Currently, 0.0% of the company’s stock are sold short.

Market Vectors Russia ETF (NYSE:RSX) seeks to replicate as closely as possible the price and yield performance of the DAXglobal Russia+ Index (DXRPUS).

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