Short Interest in Global X Silver Miners ETF (NYSEARCA:SIL) Declines By 21.6%

Global X Silver Miners ETF (NYSEARCA:SIL) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 1,371,370 shares, a decline of 21.6% from the March 15th total of 1,749,247 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 2,939,044 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIL. Bank of Nova Scotia bought a new position in shares of Global X Silver Miners ETF during the 3rd quarter worth approximately $85,405,000. Meitav Investment House Ltd. raised its stake in Global X Silver Miners ETF by 87.7% during the third quarter. Meitav Investment House Ltd. now owns 1,220,000 shares of the company’s stock worth $87,151,000 after acquiring an additional 570,000 shares in the last quarter. Electrum Group LLC bought a new position in shares of Global X Silver Miners ETF during the fourth quarter valued at $28,565,000. Mainstay Capital Management LLC ADV boosted its stake in shares of Global X Silver Miners ETF by 1,440.5% in the 4th quarter. Mainstay Capital Management LLC ADV now owns 309,140 shares of the company’s stock valued at $25,819,000 after purchasing an additional 289,072 shares in the last quarter. Finally, Southeast Asset Advisors LLC bought a new stake in shares of Global X Silver Miners ETF in the 4th quarter worth about $20,645,000.

Global X Silver Miners ETF Stock Performance

Shares of NYSEARCA:SIL traded down $0.41 during midday trading on Thursday, reaching $97.18. 840,659 shares of the company’s stock were exchanged, compared to its average volume of 3,622,032. The company’s 50 day simple moving average is $97.88 and its two-hundred day simple moving average is $86.46. Global X Silver Miners ETF has a 12 month low of $38.59 and a 12 month high of $119.24. The firm has a market capitalization of $5.57 billion, a PE ratio of 32.07 and a beta of 0.87.

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.