Range Global Coal Index ETF (NYSEARCA:COAL) Sees Large Growth in Short Interest

Range Global Coal Index ETF (NYSEARCA:COAL) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 118,670 shares, a growth of 1,530.8% from the June 30th total of 7,277 shares. Approximately 5.6% of the shares of the stock are short sold. Based on an average daily volume of 50,859 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada purchased a new position in Range Global Coal Index ETF in the first quarter valued at about $68,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Range Global Coal Index ETF during the 1st quarter valued at approximately $650,000. Group One Trading LLC boosted its stake in shares of Range Global Coal Index ETF by 1,807.9% during the 1st quarter. Group One Trading LLC now owns 15,282 shares of the company’s stock worth $419,000 after acquiring an additional 14,481 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Range Global Coal Index ETF during the 1st quarter worth approximately $577,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Range Global Coal Index ETF during the 1st quarter worth approximately $435,000.

Range Global Coal Index ETF Stock Down 1.3%

Shares of Range Global Coal Index ETF stock traded down $0.32 on Friday, reaching $23.68. The company’s stock had a trading volume of 11,299 shares, compared to its average volume of 104,575. The stock has a 50-day moving average price of $24.55 and a 200-day moving average price of $25.52. Range Global Coal Index ETF has a 52-week low of $18.70 and a 52-week high of $29.10. The company has a market capitalization of $50.20 million, a P/E ratio of 8.14 and a beta of 0.13.

Range Global Coal Index ETF Company Profile

The Range Global Coal Index ETF (COAL) is an exchange-traded fund that is based on the Range Global Coal index. The fund is designed to replicate the performance of a market-cap weighted index comprising global stocks primarily involved in the coal industry, including those engaged in coal production and logistics. COAL was launched on Jan 23, 2024 and is issued by Range.