Short Interest in Global X Silver Miners ETF (NYSEARCA:SIL) Grows By 70.9%

Global X Silver Miners ETF (NYSEARCA:SIL) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 2,191,091 shares, an increase of 70.9% from the July 30th total of 1,282,042 shares. Approximately 4.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,432,270 shares, the days-to-cover ratio is currently 1.5 days.

Global X Silver Miners ETF Stock Performance

Shares of NYSEARCA:SIL traded down $2.18 during midday trading on Tuesday, reaching $95.77. 814,069 shares of the company’s stock traded hands, compared to its average volume of 2,403,045. The company has a fifty day simple moving average of $82.75 and a two-hundred day simple moving average of $90.03. Global X Silver Miners ETF has a 1 year low of $57.92 and a 1 year high of $119.24. The company has a market cap of $5.14 billion, a P/E ratio of 32.07 and a beta of 0.84.

Hedge Funds Weigh In On Global X Silver Miners ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management increased its stake in shares of Global X Silver Miners ETF by 0.6% during the fourth quarter. Hollencrest Capital Management now owns 18,711 shares of the company’s stock worth $1,563,000 after purchasing an additional 120 shares in the last quarter. XML Financial LLC lifted its stake in Global X Silver Miners ETF by 5.2% in the 2nd quarter. XML Financial LLC now owns 3,050 shares of the company’s stock valued at $236,000 after buying an additional 150 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Global X Silver Miners ETF by 204.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 323 shares of the company’s stock worth $27,000 after buying an additional 217 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Global X Silver Miners ETF by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,818 shares of the company’s stock worth $653,000 after buying an additional 219 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its stake in Global X Silver Miners ETF by 45.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 722 shares of the company’s stock worth $52,000 after buying an additional 225 shares in the last quarter.

About Global X Silver Miners ETF

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.