Global X MSCI Norway ETF (NYSEARCA:NORW) Sees Large Drop in Short Interest

Global X MSCI Norway ETF (NYSEARCA:NORW) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 60,743 shares, a drop of 41.1% from the August 31st total of 103,089 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 25,406 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On Global X MSCI Norway ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Global X MSCI Norway ETF by 1,576.1% in the first quarter. Royal Bank of Canada now owns 23,231 shares of the company’s stock valued at $888,000 after buying an additional 21,845 shares during the last quarter. Cetera Investment Advisers bought a new position in Global X MSCI Norway ETF in the 1st quarter worth about $202,000. PNC Financial Services Group Inc. acquired a new stake in Global X MSCI Norway ETF in the 1st quarter valued at approximately $386,000. Geneos Wealth Management Inc. acquired a new position in shares of Global X MSCI Norway ETF during the first quarter valued at $2,148,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in shares of Global X MSCI Norway ETF during the 1st quarter worth about $80,000.

Global X MSCI Norway ETF Price Performance

NYSEARCA NORW traded down $0.06 during trading hours on Wednesday, hitting $35.62. The company had a trading volume of 6,093 shares, compared to its average volume of 89,064. Global X MSCI Norway ETF has a fifty-two week low of $27.84 and a fifty-two week high of $39.39. The company has a market capitalization of $91.89 million, a price-to-earnings ratio of 12.35 and a beta of 0.70. The firm’s 50 day moving average is $36.40 and its 200 day moving average is $36.55.

Global X MSCI Norway ETF Company Profile

The Global X MSCI Norway ETF (NORW) is an exchange-traded fund that is based on the MSCI Norway IMI 25\u002F50 index, a market-cap-weighted index of Norwegian stocks. NORW was launched on Nov 9, 2010 and is managed by Global X.