Global X MSCI Norway ETF (NYSEARCA:NORW) Sees Large Growth in Short Interest

Global X MSCI Norway ETF (NYSEARCA:NORW) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 400,753 shares, a growth of 167.0% from the May 31st total of 150,102 shares. Approximately 9.4% of the company’s shares are short sold. Based on an average daily volume of 165,953 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ball & Co Wealth Management Inc. bought a new stake in Global X MSCI Norway ETF in the first quarter valued at approximately $80,000. Cetera Investment Advisers acquired a new stake in Global X MSCI Norway ETF in the first quarter worth $202,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Global X MSCI Norway ETF during the fourth quarter worth $162,000. Total Clarity Wealth Management Inc. bought a new position in shares of Global X MSCI Norway ETF during the first quarter worth $222,000. Finally, Lunt Capital Management Inc. grew its holdings in shares of Global X MSCI Norway ETF by 4.5% in the 4th quarter. Lunt Capital Management Inc. now owns 8,050 shares of the company’s stock valued at $242,000 after buying an additional 345 shares during the period.

Global X MSCI Norway ETF Stock Performance

Shares of NORW opened at $33.64 on Monday. The stock has a market cap of $143.98 million, a P/E ratio of 12.35 and a beta of 0.68. Global X MSCI Norway ETF has a 1 year low of $27.84 and a 1 year high of $39.39. The stock’s 50-day moving average price is $37.55 and its two-hundred day moving average price is $35.06.

About Global X MSCI Norway ETF

The Global X MSCI Norway ETF (NORW) is an exchange-traded fund that is based on the MSCI Norway IMI 25\u002F50 index, a market-cap-weighted index of Norwegian stocks. NORW was launched on Nov 9, 2010 and is managed by Global X.