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

Global X Gold Explorers ETF (NYSEARCA:GOEX) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 15,200 shares, a growth of 72.7% from the August 15th total of 8,800 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 14,000 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 14,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.1% of the company’s shares are short sold.

Institutional Trading of Global X Gold Explorers ETF

Several hedge funds and other institutional investors have recently modified their holdings of GOEX. NewEdge Advisors LLC acquired a new stake in shares of Global X Gold Explorers ETF in the 2nd quarter valued at about $4,872,000. LPL Financial LLC raised its stake in shares of Global X Gold Explorers ETF by 133.7% in the 1st quarter. LPL Financial LLC now owns 46,488 shares of the company’s stock valued at $1,766,000 after purchasing an additional 26,597 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Global X Gold Explorers ETF in the 2nd quarter valued at about $838,000. Compound Planning Inc. bought a new position in shares of Global X Gold Explorers ETF in the 1st quarter valued at about $694,000. Finally, Flow Traders U.S. LLC bought a new position in shares of Global X Gold Explorers ETF in the 2nd quarter valued at about $483,000.

Global X Gold Explorers ETF Trading Down 3.3%

Shares of Global X Gold Explorers ETF stock opened at $61.73 on Wednesday. The company has a market capitalization of $87.66 million, a PE ratio of 20.37 and a beta of 1.10. Global X Gold Explorers ETF has a 12 month low of $28.79 and a 12 month high of $64.09. The stock’s fifty day simple moving average is $50.62 and its 200 day simple moving average is $44.55.

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.