American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR – Get Free Report) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totaling 131,233 shares, a growth of 761.0% from the April 15th total of 15,242 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 158,679 shares, the days-to-cover ratio is currently 0.8 days.
American Beacon GLG Natural Resources ETF Price Performance
MGNR stock traded up $0.12 during midday trading on Tuesday, reaching $54.95. The company had a trading volume of 76,996 shares, compared to its average volume of 133,303. The firm has a 50-day moving average price of $52.06 and a 200-day moving average price of $47.88. The company has a market capitalization of $811.61 million, a P/E ratio of 22.05 and a beta of 0.68. American Beacon GLG Natural Resources ETF has a 1 year low of $30.40 and a 1 year high of $55.15.
Hedge Funds Weigh In On American Beacon GLG Natural Resources ETF
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Midland Wealth Advisors LLC grew its holdings in American Beacon GLG Natural Resources ETF by 13.1% in the 4th quarter. Midland Wealth Advisors LLC now owns 1,292,832 shares of the company’s stock worth $57,014,000 after acquiring an additional 149,850 shares during the last quarter. Sendero Wealth Management LLC raised its stake in shares of American Beacon GLG Natural Resources ETF by 9.5% during the fourth quarter. Sendero Wealth Management LLC now owns 1,168,548 shares of the company’s stock valued at $51,533,000 after acquiring an additional 101,185 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of American Beacon GLG Natural Resources ETF by 81.7% during the first quarter. Janney Montgomery Scott LLC now owns 539,000 shares of the company’s stock valued at $27,802,000 after acquiring an additional 242,301 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV boosted its holdings in shares of American Beacon GLG Natural Resources ETF by 158.2% during the fourth quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 330,547 shares of the company’s stock worth $14,577,000 after purchasing an additional 202,503 shares during the period. Finally, CWM LLC grew its stake in shares of American Beacon GLG Natural Resources ETF by 20.9% in the fourth quarter. CWM LLC now owns 224,209 shares of the company’s stock worth $9,888,000 after purchasing an additional 38,764 shares during the last quarter.
American Beacon GLG Natural Resources ETF Company Profile
The American Beacon GLG Natural Resources ETF (MGNR) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is actively managed, seeking long-term capital appreciation through investments in a narrow portfolio of global stocks that are predominantly involved in natural resources and related businesses. MGNR was launched on Feb 5, 2024 and is issued by American Beacon.
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