Short Interest in Ares Strategic Mining Inc. (OTCMKTS:ARSMF) Increases By 501.2%

Ares Strategic Mining Inc. (OTCMKTS:ARSMF) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 409,804 shares, a growth of 501.2% from the July 30th total of 68,166 shares. Based on an average daily trading volume, of 427,094 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On Ares Strategic Mining

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG bought a new stake in Ares Strategic Mining in the 2nd quarter valued at $122,000. Bank of New York Mellon Corp bought a new position in shares of Ares Strategic Mining during the 2nd quarter worth about $345,000. BlackRock Inc. bought a new position in shares of Ares Strategic Mining during the 2nd quarter worth about $10,274,000. Finally, Galaxy Digital Capital Management GP LLC bought a new position in shares of Ares Strategic Mining during the 2nd quarter worth about $328,000.

Ares Strategic Mining Trading Down 2.5%

Shares of ARSMF stock opened at $0.27 on Thursday. Ares Strategic Mining has a 12 month low of $0.16 and a 12 month high of $0.75. The stock has a 50 day moving average of $0.23 and a 200-day moving average of $0.28.

About Ares Strategic Mining

Ares Strategic Mining Inc, a junior natural resource mining company, engages in the acquisition, exploration, and development of fluorspar properties in Canada and the United States. It focuses on the exploitation, production, and supply of metspar and acidspar. The company holds 100% interest in the Lost Sheep Fluoride Mine that consists of 353 claims covering an area of approximately 5,982 acres located in western Utah, the United States; and the Liard Fluorspar property, which includes 55 claims covering an area of approximately 55,000 acres located in British Columbia.