iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Shares Gap Down – Time to Sell?

iShares MSCI Global Gold Miners ETF (NASDAQ:RING) gapped down prior to trading on Monday . The stock had previously closed at $32.05, but opened at $30.83. iShares MSCI Global Gold Miners ETF shares last traded at $30.57, with a volume of 32,682 shares trading hands.

iShares MSCI Global Gold Miners ETF Trading Down 1.6 %

The firm has a market cap of $646.71 million, a P/E ratio of 28.50 and a beta of 0.75. The company’s 50-day moving average is $33.10 and its two-hundred day moving average is $30.59.

Institutional Investors Weigh In On iShares MSCI Global Gold Miners ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD Mission Capital LLC increased its stake in iShares MSCI Global Gold Miners ETF by 88.9% in the 1st quarter. OLD Mission Capital LLC now owns 605,567 shares of the exchange traded fund’s stock valued at $15,315,000 after buying an additional 285,006 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in iShares MSCI Global Gold Miners ETF by 6.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 145,840 shares of the exchange traded fund’s stock valued at $4,027,000 after buying an additional 8,739 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in iShares MSCI Global Gold Miners ETF in the 3rd quarter valued at about $245,000. Deane Retirement Strategies Inc. purchased a new stake in iShares MSCI Global Gold Miners ETF in the 2nd quarter valued at about $53,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in iShares MSCI Global Gold Miners ETF in the 2nd quarter valued at about $43,000.

About iShares MSCI Global Gold Miners ETF

The iShares MSCI Global Gold Miners ETF (RING) is an exchange-traded fund that is based on the MSCI ACWI Select Gold Miners IMI index, a market-cap-weighted index of companies that generate revenue primarily from gold mining. RING was launched on Jan 31, 2012 and is managed by BlackRock.