Global X Solar ETF (NASDAQ:RAYS) Sees Significant Growth in Short Interest

Global X Solar ETF (NASDAQ:RAYS) was the recipient of a significant 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 trading volume, of 6,300 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the company’s shares are sold short.

Global X Solar ETF Stock Down 0.9 %

Shares of RAYS traded down $0.08 during trading hours on Friday, hitting $8.74. The company had a trading volume of 377 shares, compared to its average volume of 7,022. The firm has a market cap of $5.16 million, a P/E ratio of -39.68 and a beta of 1.03. Global X Solar ETF has a 52-week low of $8.68 and a 52-week high of $12.63. The stock’s 50 day moving average price is $9.01 and its 200 day moving average price is $9.71.

Hedge Funds Weigh In On Global X Solar ETF

An institutional investor recently raised its position in Global X Solar ETF stock. Jane Street Group LLC lifted its position in Global X Solar ETF (NASDAQ:RAYS) by 41.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,020 shares of the company’s stock after purchasing an additional 4,717 shares during the period. Jane Street Group LLC owned about 2.46% of Global X Solar ETF worth $183,000 as of its most recent SEC filing. 9.99% of the stock is owned by institutional investors.

About Global X Solar ETF

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.