iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Reaches New 52-Week High – Should You Buy?

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) shares hit a new 52-week high during trading on Friday . The company traded as high as $99.11 and last traded at $98.7960, with a volume of 116359 shares trading hands. The stock had previously closed at $97.54.

iShares MSCI Global Gold Miners ETF Price Performance

The firm’s fifty day moving average is $84.74 and its two-hundred day moving average is $70.39. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 19.24 and a beta of 0.50.

iShares MSCI Global Gold Miners ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were paid a $0.3775 dividend. This represents a dividend yield of 105.0%. The ex-dividend date of this dividend was Tuesday, December 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC boosted its stake in iShares MSCI Global Gold Miners ETF by 52.3% during the 4th quarter. CoreCap Advisors LLC now owns 492 shares of the exchange traded fund’s stock valued at $36,000 after purchasing an additional 169 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of iShares MSCI Global Gold Miners ETF in the 3rd quarter worth $85,000. EverSource Wealth Advisors LLC acquired a new stake in shares of iShares MSCI Global Gold Miners ETF in the second quarter valued at $100,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of iShares MSCI Global Gold Miners ETF by 7.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,500 shares of the exchange traded fund’s stock valued at $184,000 after buying an additional 178 shares during the period. Finally, Prism Advisors Inc. bought a new position in iShares MSCI Global Gold Miners ETF during the fourth quarter valued at about $205,000.

About iShares MSCI Global Gold Miners ETF

The iShares MSCI Global Gold Miners ETF (RING) is an exchange-traded fund that is based on the MSCI ACWI Select Gold Miners IMI index, a market-cap-weighted index of companies that generate revenue primarily from gold mining. RING was launched on Jan 31, 2012 and is managed by BlackRock.