The short interest in the Global X Russell 2000 ETF (NYSEARCA:RSSL) experienced a significant increase in January 2024, rising by 67.9%. As of January 30, the total short interest reached 15,877 shares, up from 9,457 shares reported on January 15. This surge indicates growing investor sentiment towards short selling, which may reflect market expectations regarding the fund’s performance.
The current days-to-cover ratio stands at 2.1 days, calculated based on an average daily trading volume of 7,555 shares. This metric suggests that it would take just over two days for all short positions to be covered in the market. Presently, 0.1% of the total shares are sold short, highlighting a relatively modest level of short-selling activity compared to the overall trading landscape.
Current Stock Performance
On Monday, the Global X Russell 2000 ETF opened at $102.97. The fund boasts a market capitalization of $1.40 billion and a price-to-earnings (PE) ratio of 16.96. Its beta, a measure of volatility relative to the market, is recorded at 1.40. Over the past year, the ETF has fluctuated significantly, with a low of $67.67 and a high of $106.37. The ETF’s 50-day moving average currently sits at $101.16, while the 200-day moving average is at $96.36, indicating a positive trend in recent trading.
Institutional Investor Activity
Recent trading activity among institutional investors has also influenced the dynamics of the Global X Russell 2000 ETF. Notably, Flow Traders U.S. LLC acquired a new position worth $461,000 in the second quarter. Furthermore, LPL Financial LLC increased its stake by an impressive 243.7% in the fourth quarter, bringing its total holdings to 39,184 shares valued at approximately $3,785,000.
Additionally, Bank of Montreal Can raised its investment in the ETF by 84.7%, resulting in ownership of 9,637 shares worth about $931,000. Jane Street Group LLC also made headlines by acquiring a new stake worth around $773,000 during the first quarter. These movements reflect growing confidence among major investors in the fund’s potential.
The Global X Russell 2000 ETF is designed to track the Russell 2000 RIC Capped Index, which comprises small-cap U.S. equities. The ETF, launched on June 4, 2024, adheres to quarterly capping to ensure compliance with RIC concentration requirements. Such features make it an attractive option for investors seeking exposure to the small-cap sector.
As interest in small-cap stocks continues to evolve, the Global X Russell 2000 ETF remains a focal point for investors tracking market trends and seeking opportunities in this segment.
