American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) Sees Large Decline in Short Interest

American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 9,210 shares, a decrease of 89.2% from the July 15th total of 85,030 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 79,540 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of American Beacon GLG Natural Resources ETF

Several hedge funds have recently made changes to their positions in the stock. Avalon Trust Co bought a new position in American Beacon GLG Natural Resources ETF during the 1st quarter worth $52,000. Northwestern Mutual Wealth Management Co. bought a new stake in American Beacon GLG Natural Resources ETF in the fourth quarter valued at $62,000. Comerica Bank boosted its holdings in shares of American Beacon GLG Natural Resources ETF by 18.6% during the fourth quarter. Comerica Bank now owns 3,167 shares of the company’s stock valued at $140,000 after acquiring an additional 497 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of American Beacon GLG Natural Resources ETF by 47.9% during the second quarter. Osaic Holdings Inc. now owns 3,253 shares of the company’s stock valued at $108,000 after acquiring an additional 1,053 shares during the period. Finally, Fifth Third Bancorp bought a new position in shares of American Beacon GLG Natural Resources ETF during the first quarter worth about $216,000.

American Beacon GLG Natural Resources ETF Stock Down 1.1%

Shares of NYSEARCA MGNR opened at $52.25 on Friday. The firm’s 50-day moving average price is $49.76 and its two-hundred day moving average price is $51.45. American Beacon GLG Natural Resources ETF has a 52-week low of $34.34 and a 52-week high of $56.37. The stock has a market capitalization of $902.36 million, a P/E ratio of 22.05 and a beta of 0.74.

American Beacon GLG Natural Resources ETF Company Profile

The American Beacon GLG Natural Resources ETF (MGNR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is actively managed, seeking long-term capital appreciation through investments in a narrow portfolio of global stocks that are predominantly involved in natural resources and related businesses. MGNR was launched on Feb 5, 2024 and is issued by American Beacon.