Global X MSCI Norway ETF (NYSEARCA:NORW) Sees Large Growth in Short Interest

Global X MSCI Norway ETF (NYSEARCA:NORW) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 22,200 shares, a growth of 88.1% from the May 15th total of 11,800 shares. Based on an average daily trading volume, of 14,200 shares, the short-interest ratio is currently 1.6 days. Currently, 1.2% of the shares of the company are sold short.

Global X MSCI Norway ETF Stock Performance

NYSEARCA NORW opened at $30.55 on Friday. Global X MSCI Norway ETF has a one year low of $22.84 and a one year high of $30.85. The company has a 50-day simple moving average of $27.40 and a 200-day simple moving average of $25.88. The firm has a market capitalization of $58.05 million, a PE ratio of 11.14 and a beta of 0.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in Global X MSCI Norway ETF during the 4th quarter valued at about $327,000. Envestnet Asset Management Inc. acquired a new position in Global X MSCI Norway ETF during the 1st quarter valued at about $377,000. Bank of America Corp DE boosted its stake in Global X MSCI Norway ETF by 2,069.6% during the 4th quarter. Bank of America Corp DE now owns 10,848 shares of the company’s stock valued at $255,000 after purchasing an additional 10,348 shares during the period. Lunt Capital Management Inc. acquired a new position in Global X MSCI Norway ETF during the 1st quarter valued at about $220,000. Finally, GAMMA Investing LLC boosted its stake in Global X MSCI Norway ETF by 2,610.1% during the 1st quarter. GAMMA Investing LLC now owns 7,480 shares of the company’s stock valued at $203,000 after purchasing an additional 7,204 shares during the period.

Global X MSCI Norway ETF Company Profile

The Global X MSCI Norway ETF (NORW) is an exchange-traded fund that is based on the MSCI Norway IMI 25\u002F50 index, a market-cap-weighted index of Norwegian stocks. NORW was launched on Nov 9, 2010 and is managed by Global X.