American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) Sees Significant Decrease in Short Interest

American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 366,399 shares, a decline of 58.9% from the February 12th total of 892,162 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average trading volume of 129,702 shares, the short-interest ratio is presently 2.8 days. Based on an average trading volume of 129,702 shares, the short-interest ratio is presently 2.8 days. Approximately 3.7% of the shares of the stock are sold short.

American Beacon GLG Natural Resources ETF Stock Down 0.1%

MGNR stock traded down $0.06 during mid-day trading on Thursday, hitting $51.43. The company had a trading volume of 118,090 shares, compared to its average volume of 152,037. The company has a 50-day moving average price of $50.32 and a 200 day moving average price of $44.13. American Beacon GLG Natural Resources ETF has a 12-month low of $24.79 and a 12-month high of $54.56. The company has a market capitalization of $511.73 million, a price-to-earnings ratio of 22.05 and a beta of 0.89.

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. Harbor Investment Advisory LLC grew its holdings in American Beacon GLG Natural Resources ETF by 62.8% during the 3rd quarter. Harbor Investment Advisory LLC now owns 71,673 shares of the company’s stock valued at $2,899,000 after buying an additional 27,641 shares in the last quarter. CWM LLC raised its holdings in shares of American Beacon GLG Natural Resources ETF by 15.4% during the 3rd quarter. CWM LLC now owns 185,445 shares of the company’s stock worth $7,501,000 after acquiring an additional 24,804 shares in the last quarter. Magnolia Private Wealth LLC purchased a new stake in shares of American Beacon GLG Natural Resources ETF during the 3rd quarter worth approximately $433,000. Philip James Wealth Mangement LLC bought a new position in shares of American Beacon GLG Natural Resources ETF during the 3rd quarter valued at approximately $507,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of American Beacon GLG Natural Resources ETF by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 71,020 shares of the company’s stock valued at $2,359,000 after acquiring an additional 1,557 shares during the last quarter.

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.