iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Reaches New 12-Month High – Time to Buy?
by Danessa Lincoln · The Markets DailyiShares MSCI Global Gold Miners ETF (NASDAQ:RING – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $78.86 and last traded at $78.4450, with a volume of 199430 shares changing hands. The stock had previously closed at $76.05.
iShares MSCI Global Gold Miners ETF Trading Up 0.3%
The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 19.24 and a beta of 0.50. The firm’s fifty day moving average price is $69.91 and its 200-day moving average price is $59.45.
iShares MSCI Global Gold Miners ETF Announces Dividend
The company also recently announced a dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were issued a $0.3775 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a dividend yield of 105.0%.
Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF
Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of iShares MSCI Global Gold Miners ETF by 736.3% in the first quarter. NewEdge Advisors LLC now owns 11,290 shares of the exchange traded fund’s stock valued at $433,000 after purchasing an additional 9,940 shares during the last quarter. Jones Financial Companies Lllp grew its position in iShares MSCI Global Gold Miners ETF by 546.3% during the first quarter. Jones Financial Companies Lllp now owns 63,850 shares of the exchange traded fund’s stock valued at $2,715,000 after acquiring an additional 53,970 shares during the period. Versant Capital Management Inc raised its holdings in iShares MSCI Global Gold Miners ETF by 1.2% in the second quarter. Versant Capital Management Inc now owns 76,440 shares of the exchange traded fund’s stock valued at $3,347,000 after buying an additional 942 shares during the period. Keystone Global Partners LLC raised its stake in shares of iShares MSCI Global Gold Miners ETF by 190.1% in the 2nd quarter. Keystone Global Partners LLC now owns 46,892 shares of the exchange traded fund’s stock valued at $2,053,000 after acquiring an additional 30,727 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of iShares MSCI Global Gold Miners ETF in the second quarter worth about $49,000.
About iShares MSCI Global Gold Miners ETF
The iShares MSCI Global Gold Miners ETF (RING) is an exchange-traded fund that is based on the MSCI ACWI Select Gold Miners IMI index, a market-cap-weighted index of companies that generate revenue primarily from gold mining. RING was launched on Jan 31, 2012 and is managed by BlackRock.