Global X Solar ETF (NASDAQ:RAYS) Sees Large Decline in Short Interest

Global X Solar ETF (NASDAQ:RAYS) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 5,400 shares, a decline of 76.8% from the December 15th total of 23,300 shares. Based on an average trading volume of 7,100 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of Global X Solar ETF

A hedge fund recently raised its stake in Global X Solar ETF stock. Jane Street Group LLC grew its position in Global X Solar ETF (NASDAQ:RAYS) by 41.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,020 shares of the company’s stock after acquiring an additional 4,717 shares during the quarter. Jane Street Group LLC owned about 2.46% of Global X Solar ETF worth $183,000 at the end of the most recent reporting period. 9.99% of the stock is owned by hedge funds and other institutional investors.

Global X Solar ETF Stock Performance

RAYS stock traded up $0.25 during midday trading on Tuesday, reaching $9.09. 6,316 shares of the company traded hands, compared to its average volume of 4,439. The firm has a market capitalization of $5.91 million, a price-to-earnings ratio of -41.27 and a beta of 1.08. Global X Solar ETF has a 52-week low of $8.74 and a 52-week high of $12.65. The business has a 50 day moving average of $9.75 and a 200-day moving average of $10.04.

Global X Solar ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 30th were issued a dividend of $0.0336 per share. The ex-dividend date was Monday, December 30th. Global X Solar ETF’s payout ratio is presently -27.24%.

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.