iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Sees Large Volume Increase – Should You Buy?

Shares of iShares MSCI Global Gold Miners ETF (NASDAQ:RING) saw strong trading volume on Wednesday . 800,950 shares were traded during mid-day trading, an increase of 222% from the previous session’s volume of 248,685 shares.The stock last traded at $37.47 and had previously closed at $37.35.

iShares MSCI Global Gold Miners ETF Price Performance

The firm has a market capitalization of $1.16 billion, a P/E ratio of 16.74 and a beta of 0.75. The firm’s 50 day simple moving average is $33.18 and its two-hundred day simple moving average is $32.17.

Hedge Funds Weigh In On iShares MSCI Global Gold Miners ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bearing Point Capital LLC bought a new position in shares of iShares MSCI Global Gold Miners ETF during the fourth quarter valued at about $2,556,000. Climber Capital SA bought a new position in shares of iShares MSCI Global Gold Miners ETF during the fourth quarter valued at about $1,821,000. JPMorgan Chase & Co. bought a new position in shares of iShares MSCI Global Gold Miners ETF during the fourth quarter valued at about $6,052,000. Family Firm Inc. raised its stake in shares of iShares MSCI Global Gold Miners ETF by 28.2% during the fourth quarter. Family Firm Inc. now owns 42,173 shares of the exchange traded fund’s stock valued at $1,185,000 after acquiring an additional 9,276 shares during the last quarter. Finally, Wintrust Investments LLC bought a new position in shares of iShares MSCI Global Gold Miners ETF during the fourth quarter valued at about $93,000.

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.