Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM) Sees Large Growth in Short Interest

Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 125,851 shares, an increase of 60.2% from the September 15th total of 78,566 shares. Based on an average trading volume of 119,886 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.4% of the company’s stock are sold short.

Goldman Sachs ActiveBeta Emerging Markets Equity ETF Price Performance

NYSEARCA GEM traded down $0.30 during trading on Friday, reaching $48.61. 12,018 shares of the company’s stock traded hands, compared to its average volume of 137,670. Goldman Sachs ActiveBeta Emerging Markets Equity ETF has a 12-month low of $40.18 and a 12-month high of $54.29. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 13.33 and a beta of 0.71. The company’s 50 day simple moving average is $51.15 and its two-hundred day simple moving average is $50.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rogco LP acquired a new position in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF during the second quarter worth $25,000. Advisortrust Partners LLC purchased a new position in Goldman Sachs ActiveBeta Emerging Markets Equity ETF during the 1st quarter worth $42,000. Turtle Creek Wealth Advisors LLC purchased a new position in Goldman Sachs ActiveBeta Emerging Markets Equity ETF during the 3rd quarter worth $50,000. Harbor Asset Planning Inc. raised its stake in Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 196.4% in the first quarter. Harbor Asset Planning Inc. now owns 993 shares of the company’s stock valued at $43,000 after buying an additional 658 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Goldman Sachs ActiveBeta Emerging Markets Equity ETF in the first quarter valued at about $47,000.

About Goldman Sachs ActiveBeta Emerging Markets Equity ETF

The Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of emerging market stocks comprising 4 sub-indexes: value, momentum, quality, and low volatility. The index uses multiple factors to pick stocks, and each sub-index receives equal weight. GEM was launched on Sep 29, 2015 and is managed by Goldman Sachs.