American Beacon GLG Natural Resources ETF (NYSEARCA:MGNR) Sees Significant Growth in Short Interest
by Renee Jackson · The Cerbat GemAmerican Beacon GLG Natural Resources ETF (NYSEARCA:MGNR – Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 19,338 shares, an increase of 59.1% from the March 15th total of 12,153 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 90,922 shares, the days-to-cover ratio is currently 0.2 days.
American Beacon GLG Natural Resources ETF Trading Down 1.2%
Shares of NYSEARCA MGNR opened at $52.97 on Thursday. The stock has a fifty day simple moving average of $51.59 and a two-hundred day simple moving average of $46.41. American Beacon GLG Natural Resources ETF has a 1-year low of $27.58 and a 1-year high of $54.56. The firm has a market cap of $712.45 million, a price-to-earnings ratio of 22.05 and a beta of 0.84.
Hedge Funds Weigh In On American Beacon GLG Natural Resources ETF
Several institutional investors and hedge funds have recently bought and sold shares of MGNR. Northwestern Mutual Wealth Management Co. bought a new position in American Beacon GLG Natural Resources ETF during the fourth quarter worth about $62,000. Osaic Holdings Inc. boosted its position in American Beacon GLG Natural Resources ETF by 47.9% during the second quarter. Osaic Holdings Inc. now owns 3,253 shares of the company’s stock worth $108,000 after purchasing an additional 1,053 shares during the period. Comerica Bank boosted its position in American Beacon GLG Natural Resources ETF by 18.6% during the fourth quarter. Comerica Bank now owns 3,167 shares of the company’s stock worth $140,000 after purchasing an additional 497 shares during the period. Harbour Investments Inc. boosted its position in American Beacon GLG Natural Resources ETF by 41.8% during the fourth quarter. Harbour Investments Inc. now owns 5,625 shares of the company’s stock worth $248,000 after purchasing an additional 1,658 shares during the period. Finally, Worth Asset Management LLC bought a new position in shares of American Beacon GLG Natural Resources ETF in the third quarter worth $251,000.
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.