Global X Gold Explorers ETF (NYSEARCA:GOEX) Sees Significant Decline in Short Interest

Global X Gold Explorers ETF (NYSEARCA:GOEX) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 9,530 shares, a decline of 41.7% from the September 30th total of 16,353 shares. Based on an average daily trading volume, of 3,149 shares, the short-interest ratio is currently 3.0 days. Approximately 0.7% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC raised its position in shares of Global X Gold Explorers ETF by 7.5% in the 1st quarter. NewEdge Advisors LLC now owns 147,094 shares of the company’s stock valued at $12,449,000 after purchasing an additional 10,263 shares during the last quarter. Kestra Advisory Services LLC lifted its position in shares of Global X Gold Explorers ETF by 59.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,148 shares of the company’s stock valued at $594,000 after buying an additional 2,673 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Global X Gold Explorers ETF by 13.5% during the 1st quarter. Cetera Investment Advisers now owns 5,672 shares of the company’s stock worth $480,000 after purchasing an additional 675 shares during the last quarter. Approach Retirement Advisors LLC acquired a new position in Global X Gold Explorers ETF in the 3rd quarter valued at $208,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Global X Gold Explorers ETF by 55.6% in the first quarter. International Assets Investment Management LLC now owns 1,400 shares of the company’s stock worth $125,000 after buying an additional 500 shares in the last quarter.

Global X Gold Explorers ETF Stock Down 1.7%

GOEX traded down $1.19 during trading on Tuesday, reaching $70.24. The company had a trading volume of 3,187 shares, compared to its average volume of 22,713. Global X Gold Explorers ETF has a 52 week low of $62.52 and a 52 week high of $110.19. The business has a 50 day simple moving average of $84.74 and a 200-day simple moving average of $84.18. The stock has a market cap of $102.55 million, a P/E ratio of 20.37 and a beta of 0.89.

About Global X Gold Explorers ETF

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.