Short Interest in Global X Solar ETF (NASDAQ:RAYS) Declines By 58.9%

Global X Solar ETF (NASDAQ:RAYS) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 9,900 shares, a drop of 58.9% from the June 30th total of 24,100 shares. Based on an average daily trading volume, of 9,300 shares, the days-to-cover ratio is currently 1.1 days.

Global X Solar ETF Trading Up 0.8 %

Global X Solar ETF stock traded up $0.08 on Thursday, hitting $10.21. 847 shares of the stock traded hands, compared to its average volume of 9,873. The business’s fifty day simple moving average is $10.74 and its 200 day simple moving average is $11.22. The firm has a market cap of $6.53 million, a P/E ratio of -45.99 and a beta of 1.08. Global X Solar ETF has a 1 year low of $9.40 and a 1 year high of $17.86.

Global X Solar ETF Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 27th were given a $0.0308 dividend. The ex-dividend date of this dividend was Thursday, June 27th. Global X Solar ETF’s dividend payout ratio is presently -13.62%.

Hedge Funds Weigh In On Global X Solar ETF

An institutional investor recently bought a new position in Global X Solar ETF stock. Albion Financial Group UT purchased a new position in Global X Solar ETF (NASDAQ:RAYS) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,143 shares of the company’s stock, valued at approximately $49,000. Albion Financial Group UT owned about 0.73% of Global X Solar ETF at the end of the most recent reporting period. Hedge funds and other 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.