Short Interest in Global X Solar ETF (NASDAQ:RAYS) Increases By 101.4%

Posted by Trent Williams on Mar 28th, 2024

Global X Solar ETF (NASDAQ:RAYS – Get Free Report) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 14,500 shares, a growth of 101.4% from the February 29th total of 7,200 shares. Based on an average daily volume of 12,400 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAYS. Howe & Rusling Inc. lifted its position in shares of Global X Solar ETF by 51.4% during the 3rd quarter. Howe & Rusling Inc. now owns 20,312 shares of the company’s stock worth $274,000 after buying an additional 6,900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Global X Solar ETF during the third quarter worth $3,665,000. Jane Street Group LLC bought a new stake in Global X Solar ETF during the first quarter worth $267,000. Susquehanna International Group LLP purchased a new position in Global X Solar ETF in the fourth quarter worth $349,000. Finally, UBS Group AG bought a new position in Global X Solar ETF in the 3rd quarter valued at $81,000. 9.99% of the stock is currently owned by hedge funds and other institutional investors.

Global X Solar ETF Trading Down 0.5 %

Global X Solar ETF stock traded down $0.06 during trading on Thursday, hitting $11.77. 1,100 shares of the company were exchanged, compared to its average volume of 12,239. The company has a market capitalization of $6.36 million, a P/E ratio of -53.44 and a beta of 1.08. The business’s 50 day moving average is $11.57 and its 200 day moving average is $12.14. Global X Solar ETF has a 52 week low of $10.15 and a 52 week high of $20.91.

About Global X Solar ETF

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The Global X Solar ETF (RAYS) is an exchange-traded fund that is based on the Solactive Solar index, a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria. RAYS was launched on Sep 8, 2021 and is managed by Global X.