Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Sees Significant Drop in Short Interest

Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 67,433 shares, a drop of 58.0% from the May 31st total of 160,585 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 103,761 shares, the short-interest ratio is currently 0.6 days.

Global X Autonomous & Electric Vehicles ETF Price Performance

Shares of DRIV traded up $0.89 during midday trading on Tuesday, hitting $38.68. The stock had a trading volume of 37,546 shares, compared to its average volume of 62,810. Global X Autonomous & Electric Vehicles ETF has a 1 year low of $23.08 and a 1 year high of $42.76. The firm has a market cap of $415.44 million, a PE ratio of -138.18 and a beta of 1.45. The stock’s 50 day moving average is $38.99 and its 200 day moving average is $34.17.

Global X Autonomous & Electric Vehicles ETF Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 29th will be given a $0.0737 dividend. This represents a yield of 39.0%. The ex-dividend date of this dividend is Monday, June 29th. Global X Autonomous & Electric Vehicles ETF’s dividend payout ratio is -110.71%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DRIV. Farther Finance Advisors LLC raised its holdings in shares of Global X Autonomous & Electric Vehicles ETF by 802.2% in the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the technology company’s stock worth $61,000 after buying an additional 1,845 shares during the period. Strive Financial Group LLC purchased a new position in Global X Autonomous & Electric Vehicles ETF during the 4th quarter valued at $80,000. Ameriprise Financial Inc. bought a new position in Global X Autonomous & Electric Vehicles ETF in the 3rd quarter valued at $230,000. Finally, Jones Financial Companies Lllp grew its position in Global X Autonomous & Electric Vehicles ETF by 261.2% in the 1st quarter. Jones Financial Companies Lllp now owns 13,107 shares of the technology company’s stock valued at $277,000 after acquiring an additional 9,478 shares during the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

About Global X Autonomous & Electric Vehicles ETF

The Global X Autonomous & Electric Vehicles ETF (DRIV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an index that uses artificial intelligence to select global stocks involved in the development, production, or supporting technology of autonomous and electronic vehicles. DRIV was launched on Apr 13, 2018 and is issued by Global X.