Short Interest in Global X Solar ETF (NASDAQ:RAYS) Increases By 63.0%

Global X Solar ETF (NASDAQ:RAYS) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,400 shares, a growth of 63.0% from the February 28th total of 2,700 shares. Based on an average daily volume of 6,300 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.7% of the shares of the company are sold short.

Global X Solar ETF Price Performance

RAYS stock traded down $0.34 during midday trading on Monday, reaching $8.47. 2,458 shares of the company were exchanged, compared to its average volume of 7,004. Global X Solar ETF has a one year low of $8.40 and a one year high of $12.63. The firm has a market capitalization of $5.00 million, a price-to-earnings ratio of -38.45 and a beta of 1.03. The business has a 50-day moving average price of $9.01 and a two-hundred day moving average price of $9.71.

Institutional Trading of Global X Solar ETF

An institutional investor recently raised its position in Global X Solar ETF stock. Jane Street Group LLC raised its stake in Global X Solar ETF (NASDAQ:RAYS) by 41.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,020 shares of the company’s stock after acquiring an additional 4,717 shares during the quarter. Jane Street Group LLC owned about 2.46% of Global X Solar ETF worth $183,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.99% of the company’s stock.

Global X Solar ETF Company Profile

The Global X Solar ETF (RAYS) is an exchange-traded fund that is based on the Solactive Solar index, a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria. RAYS was launched on Sep 8, 2021 and is managed by Global X.