Short Interest in VanEck ChiNext ETF (NYSEARCA:CNXT) Declines By 51.5%

VanEck ChiNext ETF (NYSEARCA:CNXT) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 61,494 shares, a drop of 51.5% from the July 15th total of 126,734 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 78,046 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of VanEck ChiNext ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Group One Trading LLC increased its stake in shares of VanEck ChiNext ETF by 1,500.0% in the 1st quarter. Group One Trading LLC now owns 3,200 shares of the company’s stock worth $145,000 after acquiring an additional 3,000 shares in the last quarter. Royal Bank of Canada bought a new stake in VanEck ChiNext ETF during the fourth quarter worth about $147,000. Cetera Investment Advisers purchased a new stake in VanEck ChiNext ETF in the first quarter worth about $203,000. Jane Street Group LLC purchased a new stake in VanEck ChiNext ETF in the second quarter worth about $237,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in VanEck ChiNext ETF in the second quarter worth about $323,000. 36.93% of the stock is owned by hedge funds and other institutional investors.

VanEck ChiNext ETF Stock Performance

Shares of NYSEARCA CNXT traded up $1.73 during mid-day trading on Monday, hitting $53.67. 140,247 shares of the stock traded hands, compared to its average volume of 91,648. The company has a market cap of $115.39 million, a price-to-earnings ratio of 27.22 and a beta of 0.64. The stock has a fifty day moving average price of $54.22 and a 200-day moving average price of $51.08. VanEck ChiNext ETF has a 52 week low of $34.63 and a 52 week high of $62.59.

VanEck ChiNext ETF Company Profile

The VanEck ChiNext ETF (CNXT) is an exchange-traded fund that is based on the ChiNext – RMB index. The fund tracks a cap-weighted index of 100 small- and medium-size companies traded on the SME Board and ChiNext Board of the Shenzhen Stock Exchange. CNXT was launched on Jul 23, 2014 and is managed by VanEck.