Global X Gold Explorers ETF (NYSEARCA:GOEX) Sees Large Drop in Short Interest

Global X Gold Explorers ETF (NYSEARCA:GOEX) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 9,530 shares, a decline of 41.7% from the September 30th total of 16,353 shares. Based on an average daily volume of 3,149 shares, the days-to-cover ratio is currently 3.0 days. Currently, 0.7% of the company’s shares are sold short.

Global X Gold Explorers ETF Stock Performance

GOEX traded down $4.07 on Friday, reaching $69.74. 4,367 shares of the company’s stock were exchanged, compared to its average volume of 22,903. Global X Gold Explorers ETF has a twelve month low of $62.52 and a twelve month high of $110.19. The company’s 50 day moving average is $85.24 and its 200-day moving average is $84.27. The company has a market cap of $101.82 million, a price-to-earnings ratio of 20.37 and a beta of 0.89.

Institutional Investors Weigh In On Global X Gold Explorers ETF

Several large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings 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 valued at $125,000 after acquiring an additional 500 shares in the last quarter. Cetera Investment Advisers increased its holdings in Global X Gold Explorers ETF by 13.5% in the 1st quarter. Cetera Investment Advisers now owns 5,672 shares of the company’s stock valued at $480,000 after purchasing an additional 675 shares in the last quarter. Approach Retirement Advisors LLC acquired a new stake in Global X Gold Explorers ETF in the 3rd quarter valued at $208,000. Kestra Advisory Services LLC increased its holdings in Global X Gold Explorers ETF by 201.8% in the 1st quarter. Kestra Advisory Services LLC now owns 4,086 shares of the company’s stock valued at $346,000 after purchasing an additional 2,732 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Global X Gold Explorers ETF by 2.8% in the second quarter. NewEdge Advisors LLC now owns 151,159 shares of the company’s stock valued at $10,450,000 after purchasing an additional 4,065 shares during the period.

Global X Gold Explorers ETF Company Profile

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.