Global X Gold Explorers ETF (NYSEARCA:GOEX) Sees Significant Increase in Short Interest

Global X Gold Explorers ETF (NYSEARCA:GOEX) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 16,353 shares, an increase of 137.3% from the September 15th total of 6,890 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,753 shares, the days-to-cover ratio is currently 3.4 days.

Global X Gold Explorers ETF Price Performance

NYSEARCA:GOEX traded down $4.01 during trading hours on Wednesday, reaching $77.12. 6,932 shares of the company traded hands, compared to its average volume of 24,071. The firm’s 50-day moving average is $87.76 and its 200-day moving average is $81.52. The stock has a market cap of $112.60 million, a P/E ratio of 20.37 and a beta of 0.89. Global X Gold Explorers ETF has a 1-year low of $62.30 and a 1-year high of $110.19.

Institutional Trading of Global X Gold Explorers ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in Global X Gold Explorers ETF by 2.8% during the 2nd quarter. NewEdge Advisors LLC now owns 151,159 shares of the company’s stock worth $10,450,000 after purchasing an additional 4,065 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Global X Gold Explorers ETF by 13.5% during the 1st quarter. Cetera Investment Advisers now owns 5,672 shares of the company’s stock worth $480,000 after purchasing an additional 675 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Global X Gold Explorers ETF by 55.6% during the 1st quarter. International Assets Investment Management LLC now owns 1,400 shares of the company’s stock worth $125,000 after purchasing an additional 500 shares during the period. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Global X Gold Explorers ETF by 201.8% during the first quarter. Kestra Advisory Services LLC now owns 4,086 shares of the company’s stock worth $346,000 after purchasing an additional 2,732 shares during the last quarter.

About Global X Gold Explorers ETF

The Global X Gold Explorers ETF (GOEX) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of global stocks in the gold mining industry as an explorer or developer. GOEX was launched on Nov 3, 2010 and is managed by Global X.