iShares MSCI Global Gold Miners ETF (NASDAQ:RING) Reaches New 12-Month High – Time to Buy?

Shares of iShares MSCI Global Gold Miners ETF (NASDAQ:RING) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $65.41 and last traded at $65.09, with a volume of 66473 shares changing hands. The stock had previously closed at $63.79.

iShares MSCI Global Gold Miners ETF Price Performance

The stock has a 50-day simple moving average of $52.66 and a 200-day simple moving average of $45.26. The stock has a market cap of $2.19 billion, a PE ratio of 19.24 and a beta of 0.75.

Institutional Investors Weigh In On iShares MSCI Global Gold Miners ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of iShares MSCI Global Gold Miners ETF in the second quarter worth about $100,000. GPS Wealth Strategies Group LLC boosted its holdings in iShares MSCI Global Gold Miners ETF by 315.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 16,919 shares of the exchange traded fund’s stock valued at $741,000 after purchasing an additional 12,849 shares during the last quarter. Strategic Blueprint LLC purchased a new position in iShares MSCI Global Gold Miners ETF in the second quarter valued at about $239,000. Trust Co. of Toledo NA OH purchased a new position in iShares MSCI Global Gold Miners ETF in the second quarter valued at about $49,000. Finally, Keystone Global Partners LLC boosted its holdings in iShares MSCI Global Gold Miners ETF by 190.1% in the second quarter. Keystone Global Partners LLC now owns 46,892 shares of the exchange traded fund’s stock valued at $2,053,000 after purchasing an additional 30,727 shares during the last quarter.

iShares MSCI Global Gold Miners ETF Company Profile

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.