Global X Solar ETF (NASDAQ:RAYS) Stock Price Down 0.1% – Should You Sell?

Global X Solar ETF (NASDAQ:RAYS) shares were down 0.1% during mid-day trading on Tuesday . The stock traded as low as $9.16 and last traded at $9.20. Approximately 579 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 4,570 shares. The stock had previously closed at $9.21.

Global X Solar ETF Price Performance

The company’s 50-day moving average is $9.18 and its 200-day moving average is $9.88. The firm has a market capitalization of $5.98 million, a price-to-earnings ratio of -41.77 and a beta of 1.08.

Global X Solar ETF Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 30th were given a $0.0336 dividend. The ex-dividend date was Monday, December 30th. Global X Solar ETF’s dividend payout ratio is presently -27.24%.

Institutional Investors Weigh In On Global X Solar ETF

A hedge fund recently raised its stake in Global X Solar ETF stock. Jane Street Group LLC increased its stake in Global X Solar ETF (NASDAQ:RAYS) by 41.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,020 shares of the company’s stock after acquiring an additional 4,717 shares during the period. Jane Street Group LLC owned approximately 2.46% of Global X Solar ETF worth $183,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.99% of the company’s stock.

About Global X Solar ETF

The Global X Solar ETF (RAYS) is an exchange-traded fund that is based on the Solactive Solar index, a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria. RAYS was launched on Sep 8, 2021 and is managed by Global X.