Short Interest in iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Expands By 1,276.5%

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) was the target of a significant growth in short interest in the month of May. As of May 28th, there was short interest totalling 158,300 shares, a growth of 1,276.5% from the May 13th total of 11,500 shares. Based on an average daily volume of 167,000 shares, the days-to-cover ratio is presently 0.9 days.

Institutional investors and hedge funds have recently made changes to their positions in the business. Prudential PLC increased its stake in shares of iShares MSCI Global Gold Miners ETF by 4.8% in the 4th quarter. Prudential PLC now owns 26,060 shares of the exchange traded fund’s stock valued at $779,000 after purchasing an additional 1,190 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in iShares MSCI Global Gold Miners ETF in the first quarter valued at about $5,310,000. Madison Asset Management LLC bought a new position in iShares MSCI Global Gold Miners ETF in the first quarter valued at about $14,111,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of iShares MSCI Global Gold Miners ETF by 28.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 977,753 shares of the exchange traded fund’s stock worth $26,746,000 after acquiring an additional 219,298 shares during the last quarter.

RING stock traded up $0.52 during mid-day trading on Friday, hitting $32.35. The stock had a trading volume of 74,648 shares, compared to its average volume of 180,233. iShares MSCI Global Gold Miners ETF has a 52 week low of $25.55 and a 52 week high of $37.96. The stock’s fifty day moving average is $30.96.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, June 16th. Investors of record on Friday, June 11th will be paid a $0.312 dividend. This is a boost from iShares MSCI Global Gold Miners ETF’s previous Semi-Annual dividend of $0.05. The ex-dividend date is Thursday, June 10th.

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