Global X Renewable Energy Producers ETF (NASDAQ:RNRG) Trading Up 2.7% – Here’s Why

Global X Renewable Energy Producers ETF (NASDAQ:RNRG)’s share price traded up 2.7% during trading on Tuesday . The company traded as high as $37.00 and last traded at $36.91. 1,974 shares changed hands during trading, a decline of 54% from the average session volume of 4,327 shares. The stock had previously closed at $35.95.

Global X Renewable Energy Producers ETF Price Performance

The firm has a 50 day simple moving average of $36.39 and a two-hundred day simple moving average of $34.36. The stock has a market cap of $29.16 million, a price-to-earnings ratio of 15.93 and a beta of 0.88.

Institutional Trading of Global X Renewable Energy Producers ETF

A number of hedge funds have recently modified their holdings of RNRG. CIBC Private Wealth Group LLC bought a new position in Global X Renewable Energy Producers ETF during the 4th quarter worth approximately $25,000. Raymond James Financial Inc. bought a new stake in Global X Renewable Energy Producers ETF in the second quarter valued at approximately $38,000. Jane Street Group LLC bought a new stake in Global X Renewable Energy Producers ETF in the fourth quarter valued at approximately $441,000. Flow Traders U.S. LLC raised its holdings in Global X Renewable Energy Producers ETF by 188.4% in the third quarter. Flow Traders U.S. LLC now owns 33,037 shares of the company’s stock worth $1,052,000 after purchasing an additional 21,582 shares during the period. Finally, Natural Investments LLC acquired a new stake in Global X Renewable Energy Producers ETF in the fourth quarter worth $1,093,000.

About Global X Renewable Energy Producers ETF

The Global X Renewable Energy Producers ETF (RNRG) is an exchange-traded fund that is based on the Indxx Renewable Energy Producers index, a market-cap-weighted index of global renewable energy companies including YieldCos. RNRG was launched on May 28, 2015 and is managed by Global X.