Short Interest in Global X Solar ETF (NASDAQ:RAYS) Drops By 15.1%

Global X Solar ETF (NASDAQ:RAYS) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 10,700 shares, a decrease of 15.1% from the March 31st total of 12,600 shares. Based on an average daily trading volume, of 10,700 shares, the days-to-cover ratio is currently 1.0 days.

Global X Solar ETF Stock Up 2.0 %

RAYS opened at $10.78 on Monday. Global X Solar ETF has a 12-month low of $10.15 and a 12-month high of $19.59. The firm has a market capitalization of $6.14 million, a P/E ratio of -48.95 and a beta of 1.08. The stock has a fifty day moving average of $11.49 and a 200-day moving average of $11.79.

Institutional Trading of Global X Solar ETF

Hedge funds have recently made changes to their positions in the stock. Albion Financial Group UT purchased a new position in Global X Solar ETF during the first quarter valued at approximately $49,000. Howe & Rusling Inc. boosted its stake in shares of Global X Solar ETF by 51.4% during the 3rd quarter. Howe & Rusling Inc. now owns 20,312 shares of the company’s stock valued at $274,000 after buying an additional 6,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Global X Solar ETF during the 3rd quarter valued at $3,665,000. 9.99% of the stock is owned by hedge funds and other institutional investors.

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.