Short Interest in Global X Silver Miners ETF (NYSEARCA:SIL) Decreases By 21.6%

Global X Silver Miners ETF (NYSEARCA:SIL) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totaling 1,371,370 shares, a drop of 21.6% from the March 15th total of 1,749,247 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average trading volume of 2,939,044 shares, the days-to-cover ratio is currently 0.5 days.

Global X Silver Miners ETF Stock Performance

Shares of SIL traded up $3.80 during trading hours on Friday, hitting $100.98. 1,984,266 shares of the stock were exchanged, compared to its average volume of 3,599,602. The stock’s 50-day moving average price is $98.05 and its two-hundred day moving average price is $86.74. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 32.07 and a beta of 0.87. Global X Silver Miners ETF has a 12-month low of $38.59 and a 12-month high of $119.24.

Institutional Investors Weigh In On Global X Silver Miners ETF

Several large investors have recently bought and sold shares of the stock. Meitav Investment House Ltd. boosted its position in shares of Global X Silver Miners ETF by 87.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 1,220,000 shares of the company’s stock valued at $87,151,000 after purchasing an additional 570,000 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Global X Silver Miners ETF in the 3rd quarter valued at about $85,405,000. Wells Fargo & Company MN boosted its position in shares of Global X Silver Miners ETF by 10.3% in the 4th quarter. Wells Fargo & Company MN now owns 384,656 shares of the company’s stock valued at $32,126,000 after purchasing an additional 35,887 shares during the period. Electrum Group LLC acquired a new stake in Global X Silver Miners ETF during the 4th quarter worth approximately $28,565,000. Finally, Mainstay Capital Management LLC ADV lifted its position in Global X Silver Miners ETF by 1,440.5% during the 4th quarter. Mainstay Capital Management LLC ADV now owns 309,140 shares of the company’s stock worth $25,819,000 after acquiring an additional 289,072 shares during the period.

Global X Silver Miners ETF Company Profile

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.