American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR – Get Free Report) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 9,210 shares, a decrease of 89.2% from the July 15th total of 85,030 shares. Based on an average daily trading volume, of 79,540 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are short sold.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in MGNR. Avalon Trust Co acquired a new stake in American Beacon GLG Natural Resources ETF during the first quarter worth approximately $52,000. Northwestern Mutual Wealth Management Co. bought a new stake in American Beacon GLG Natural Resources ETF in the fourth quarter worth approximately $62,000. Comerica Bank lifted its stake in American Beacon GLG Natural Resources ETF by 18.6% in the fourth quarter. Comerica Bank now owns 3,167 shares of the company’s stock valued at $140,000 after buying an additional 497 shares during the period. Osaic Holdings Inc. lifted its stake in American Beacon GLG Natural Resources ETF by 47.9% in the second quarter. Osaic Holdings Inc. now owns 3,253 shares of the company’s stock valued at $108,000 after buying an additional 1,053 shares during the period. Finally, Fifth Third Bancorp bought a new position in shares of American Beacon GLG Natural Resources ETF during the 1st quarter worth approximately $216,000.
American Beacon GLG Natural Resources ETF Price Performance
NYSEARCA MGNR traded up $0.10 during mid-day trading on Wednesday, reaching $52.82. 27,046 shares of the stock were exchanged, compared to its average volume of 114,753. The stock has a market cap of $912.20 million, a P/E ratio of 22.05 and a beta of 0.74. American Beacon GLG Natural Resources ETF has a one year low of $34.34 and a one year high of $56.37. The stock has a 50 day simple moving average of $49.87 and a 200-day simple moving average of $51.43.
About American Beacon GLG Natural Resources ETF
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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