Ares Strategic Mining Inc. (OTCMKTS:ARSMF) Sees Significant Growth in Short Interest

Ares Strategic Mining Inc. (OTCMKTS:ARSMF) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 409,804 shares, an increase of 501.2% from the July 30th total of 68,166 shares. Based on an average trading volume of 427,094 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Ares Strategic Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in ARSMF. Deutsche Bank AG acquired a new stake in Ares Strategic Mining during the second quarter valued at approximately $122,000. Galaxy Digital Capital Management GP LLC acquired a new position in Ares Strategic Mining in the second quarter worth approximately $328,000. Bank of New York Mellon Corp bought a new position in shares of Ares Strategic Mining in the second quarter valued at $345,000. Finally, BlackRock Inc. bought a new position in shares of Ares Strategic Mining in the second quarter valued at $10,274,000.

Ares Strategic Mining Price Performance

Shares of OTCMKTS ARSMF opened at $0.26 on Friday. Ares Strategic Mining has a twelve month low of $0.16 and a twelve month high of $0.75. The firm has a 50-day moving average of $0.23 and a two-hundred day moving average of $0.27.

Ares Strategic Mining Company Profile

Ares Strategic Mining Inc, a junior natural resource mining company, engages in the acquisition, exploration, and development of fluorspar properties in Canada and the United States. It focuses on the exploitation, production, and supply of metspar and acidspar. The company holds 100% interest in the Lost Sheep Fluoride Mine that consists of 353 claims covering an area of approximately 5,982 acres located in western Utah, the United States; and the Liard Fluorspar property, which includes 55 claims covering an area of approximately 55,000 acres located in British Columbia.