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

Global X Solar ETF (NASDAQ:RAYS) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 6,300 shares, a decrease of 33.7% from the October 31st total of 9,500 shares. Based on an average daily trading volume, of 7,100 shares, the short-interest ratio is currently 0.9 days.

Global X Solar ETF Stock Performance

Shares of NASDAQ RAYS traded up $0.07 during midday trading on Friday, reaching $10.24. 1,435 shares of the stock were exchanged, compared to its average volume of 8,508. The stock has a market capitalization of $6.66 million, a P/E ratio of -46.49 and a beta of 1.08. The company has a 50 day simple moving average of $10.57 and a 200 day simple moving average of $10.43. Global X Solar ETF has a twelve month low of $9.27 and a twelve month high of $13.63.

Institutional Investors 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 holdings in shares of Global X Solar ETF (NASDAQ:RAYS) by 41.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,020 shares of the company’s stock after purchasing an additional 4,717 shares during the quarter. Jane Street Group LLC owned about 2.46% of Global X Solar ETF worth $183,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.