Short Interest in Ares Strategic Mining Inc. (OTCMKTS:ARSMF) Declines By 47.2%

Ares Strategic Mining Inc. (OTCMKTS:ARSMF) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 68,166 shares, a drop of 47.2% from the July 15th total of 129,096 shares. Based on an average daily trading volume, of 684,296 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Ares Strategic Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in Ares Strategic Mining in the second quarter worth about $122,000. Galaxy Digital Capital Management GP LLC acquired a new position in Ares Strategic Mining during the 2nd quarter valued at about $328,000. Bank of New York Mellon Corp bought a new position in shares of Ares Strategic Mining in the 2nd quarter valued at about $345,000. Finally, BlackRock Inc. bought a new position in shares of Ares Strategic Mining in the 2nd quarter valued at about $10,274,000.

Ares Strategic Mining Price Performance

OTCMKTS ARSMF opened at $0.27 on Tuesday. The stock has a fifty day moving average of $0.22 and a 200-day moving average of $0.28. Ares Strategic Mining has a 52 week low of $0.16 and a 52 week high of $0.75.

About Ares Strategic Mining

Ares Strategic Mining Inc, a junior natural resource mining company, engages in the acquisition, exploration, and development of fluorspar properties in Canada and the United States. It focuses on the exploitation, production, and supply of metspar and acidspar. The company holds 100% interest in the Lost Sheep Fluoride Mine that consists of 353 claims covering an area of approximately 5,982 acres located in western Utah, the United States; and the Liard Fluorspar property, which includes 55 claims covering an area of approximately 55,000 acres located in British Columbia.