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

Global X Silver Miners ETF (NYSEARCA:SIL) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 2,191,091 shares, a growth of 70.9% from the July 30th total of 1,282,042 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily volume of 1,432,270 shares, the short-interest ratio is presently 1.5 days.

Global X Silver Miners ETF Trading Down 3.7%

Shares of SIL stock opened at $94.29 on Wednesday. Global X Silver Miners ETF has a 1 year low of $57.92 and a 1 year high of $119.24. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 32.07 and a beta of 0.84. The firm’s 50 day moving average is $83.06 and its 200-day moving average is $89.95.

Hedge Funds Weigh In On Global X Silver Miners ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its stake in shares of Global X Silver Miners ETF by 204.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 323 shares of the company’s stock worth $27,000 after buying an additional 217 shares during the period. Evelyn Partners Investment Management LLP bought a new position in shares of Global X Silver Miners ETF in the 4th quarter valued at about $32,000. EFG International AG bought a new stake in Global X Silver Miners ETF during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC acquired a new position in Global X Silver Miners ETF during the 1st quarter valued at approximately $35,000. Finally, Sound Income Strategies LLC lifted its holdings in Global X Silver Miners ETF by 428.8% during the first quarter. Sound Income Strategies LLC now owns 386 shares of the company’s stock valued at $36,000 after purchasing an additional 313 shares in the last quarter.

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.