Global X Gold Explorers ETF (NYSEARCA:GOEX) Sees Large Increase in Short Interest
by Mitch Edgeman · The Markets DailyGlobal X Gold Explorers ETF (NYSEARCA:GOEX – Get Free Report) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 8,184 shares, an increase of 90.1% from the August 15th total of 4,305 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 24,139 shares, the days-to-cover ratio is currently 0.3 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in Global X Gold Explorers ETF by 2.8% in the 2nd quarter. NewEdge Advisors LLC now owns 151,159 shares of the company’s stock worth $10,450,000 after buying an additional 4,065 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Global X Gold Explorers ETF by 13.5% during the first quarter. Cetera Investment Advisers now owns 5,672 shares of the company’s stock valued at $480,000 after acquiring an additional 675 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of Global X Gold Explorers ETF by 201.8% during the first quarter. Kestra Advisory Services LLC now owns 4,086 shares of the company’s stock valued at $346,000 after acquiring an additional 2,732 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Global X Gold Explorers ETF by 55.6% during the first quarter. International Assets Investment Management LLC now owns 1,400 shares of the company’s stock valued at $125,000 after acquiring an additional 500 shares in the last quarter.
Global X Gold Explorers ETF Price Performance
Global X Gold Explorers ETF stock traded down $1.92 during midday trading on Wednesday, hitting $84.90. 4,492 shares of the company were exchanged, compared to its average volume of 26,346. The company’s fifty day moving average price is $81.64 and its 200-day moving average price is $82.39. The company has a market cap of $90.84 million, a PE ratio of 20.37 and a beta of 0.91. Global X Gold Explorers ETF has a fifty-two week low of $60.04 and a fifty-two week high of $110.19.
Global X Gold Explorers ETF Company Profile
The Global X Gold Explorers ETF (GOEX) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of global stocks in the gold mining industry as an explorer or developer. GOEX was launched on Nov 3, 2010 and is managed by Global X.