Global X Silver Miners ETF (NYSEARCA:SIL) Sees Significant Increase in Short Interest

Global X Silver Miners ETF (NYSEARCA:SIL) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 1,489,774 shares, an increase of 107.2% from the May 31st total of 719,016 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average daily volume of 1,764,454 shares, the days-to-cover ratio is presently 0.8 days.

Global X Silver Miners ETF Trading Down 0.3%

Shares of SIL stock traded down $0.27 on Wednesday, hitting $77.19. The stock had a trading volume of 1,620,692 shares, compared to its average volume of 2,825,191. Global X Silver Miners ETF has a twelve month low of $47.09 and a twelve month high of $119.24. The company has a fifty day moving average price of $88.27 and a two-hundred day moving average price of $93.15. The firm has a market cap of $4.62 billion, a P/E ratio of 32.07 and a beta of 0.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Nova Scotia increased its holdings in shares of Global X Silver Miners ETF by 307.5% in the first quarter. Bank of Nova Scotia now owns 1,203,736 shares of the company’s stock worth $108,433,000 after acquiring an additional 908,336 shares in the last quarter. Wells Fargo & Company MN increased its stake in Global X Silver Miners ETF by 10.3% during the 4th quarter. Wells Fargo & Company MN now owns 384,656 shares of the company’s stock worth $32,126,000 after purchasing an additional 35,887 shares in the last quarter. Electrum Group LLC bought a new stake in Global X Silver Miners ETF during the 4th quarter worth approximately $28,565,000. Mainstay Capital Management LLC ADV raised its holdings in Global X Silver Miners ETF by 1,440.5% during the 4th quarter. Mainstay Capital Management LLC ADV now owns 309,140 shares of the company’s stock worth $25,819,000 after buying an additional 289,072 shares during the period. Finally, Group One Trading LLC raised its holdings in Global X Silver Miners ETF by 186.6% during the 4th quarter. Group One Trading LLC now owns 301,802 shares of the company’s stock worth $25,207,000 after buying an additional 196,492 shares during the period.

Global X Silver Miners ETF Company Profile

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.