Global X Solar ETF (NASDAQ:RAYS) Stock Price Down 2.2% – Should You Sell?

Global X Solar ETF (NASDAQ:RAYS)’s stock price traded down 2.2% during trading on Wednesday . The stock traded as low as $8.94 and last traded at $8.94. 17,135 shares traded hands during mid-day trading, an increase of 100% from the average session volume of 8,554 shares. The stock had previously closed at $9.14.

Global X Solar ETF Stock Down 2.2 %

The stock has a 50-day moving average of $10.02 and a 200 day moving average of $10.12. The stock has a market cap of $5.81 million, a PE ratio of -40.59 and a beta of 1.08.

Global X Solar ETF Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.0336 per share. The ex-dividend date is Monday, December 30th. Global X Solar ETF’s dividend payout ratio is presently -13.62%.

Institutional Investors Weigh In On Global X Solar ETF

An institutional investor recently raised its position in Global X Solar ETF stock. Jane Street Group LLC raised its position in Global X Solar ETF (NASDAQ:RAYS) by 41.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,020 shares of the company’s stock after purchasing an additional 4,717 shares during the quarter. Jane Street Group LLC owned about 2.46% of Global X Solar ETF worth $183,000 as of its most recent SEC filing. 9.99% of the stock is currently owned by institutional investors and hedge funds.

Global X Solar ETF Company Profile

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.