Short Interest in American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) Rises By 175.1%

American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 30,653 shares, a growth of 175.1% from the June 15th total of 11,142 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 85,493 shares, the days-to-cover ratio is currently 0.4 days.

American Beacon GLG Natural Resources ETF Stock Performance

MGNR traded down $0.37 during midday trading on Wednesday, reaching $48.58. 145,171 shares of the company were exchanged, compared to its average volume of 120,395. The company’s fifty day moving average price is $51.71 and its 200 day moving average price is $50.96. American Beacon GLG Natural Resources ETF has a one year low of $32.47 and a one year high of $56.37. The company has a market cap of $844.32 million, a price-to-earnings ratio of 22.05 and a beta of 0.73.

Institutional Investors Weigh In On American Beacon GLG Natural Resources ETF

A number of hedge funds have recently made changes to their positions in MGNR. CWM LLC raised its position in American Beacon GLG Natural Resources ETF by 20.9% in the fourth quarter. CWM LLC now owns 224,209 shares of the company’s stock worth $9,888,000 after acquiring an additional 38,764 shares during the period. Financial Security Advisor Inc. raised its stake in shares of American Beacon GLG Natural Resources ETF by 77.5% during the 4th quarter. Financial Security Advisor Inc. now owns 40,659 shares of the company’s stock valued at $1,793,000 after purchasing an additional 17,747 shares during the period. HighTower Advisors LLC lifted its holdings in shares of American Beacon GLG Natural Resources ETF by 72.7% in the fourth quarter. HighTower Advisors LLC now owns 48,238 shares of the company’s stock worth $2,127,000 after buying an additional 20,299 shares in the last quarter. Pursuit Wealth Management LLC purchased a new stake in American Beacon GLG Natural Resources ETF in the 4th quarter worth approximately $807,000. Finally, Harbor Investment Advisory LLC boosted its stake in American Beacon GLG Natural Resources ETF by 19.9% during the first quarter. Harbor Investment Advisory LLC now owns 94,862 shares of the company’s stock valued at $4,893,000 after buying an additional 15,727 shares during the period.

American Beacon GLG Natural Resources ETF Company Profile

The American Beacon GLG Natural Resources ETF (MGNR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is actively managed, seeking long-term capital appreciation through investments in a narrow portfolio of global stocks that are predominantly involved in natural resources and related businesses. MGNR was launched on Feb 5, 2024 and is issued by American Beacon.