Short Interest in Global X Solar ETF (NASDAQ:RAYS) Rises By 101.4%

Global X Solar ETF (NASDAQ:RAYS) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 14,500 shares, an increase of 101.4% from the February 29th total of 7,200 shares. Based on an average daily trading volume, of 12,400 shares, the short-interest ratio is currently 1.2 days.

Global X Solar ETF Price Performance

RAYS stock traded down $0.06 on Thursday, reaching $11.77. The company’s stock had a trading volume of 1,100 shares, compared to its average volume of 12,239. Global X Solar ETF has a 52 week low of $10.15 and a 52 week high of $20.91. The company has a market capitalization of $6.36 million, a P/E ratio of -53.44 and a beta of 1.08. The firm has a fifty day moving average of $11.57 and a two-hundred day moving average of $12.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG bought a new position in Global X Solar ETF in the 3rd quarter valued at about $81,000. Howe & Rusling Inc. acquired a new position in shares of Global X Solar ETF during the second quarter valued at approximately $248,000. Jane Street Group LLC bought a new stake in Global X Solar ETF during the first quarter worth approximately $267,000. Susquehanna International Group LLP bought a new stake in Global X Solar ETF during the fourth quarter worth approximately $349,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Global X Solar ETF in the third quarter worth approximately $3,665,000. Institutional investors own 9.99% of the company’s stock.

About Global X Solar ETF

The Global X Solar ETF (RAYS) is an exchange-traded fund that is based on the Solactive Solar index, a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria. RAYS was launched on Sep 8, 2021 and is managed by Global X.