VanEck China Bond ETF (NYSEARCA:CBON) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

VanEck China Bond ETF (NYSEARCA:CBON) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $24.17 and traded as high as $24.23. VanEck China Bond ETF shares last traded at $24.19, with a volume of 4,607 shares changing hands.

VanEck China Bond ETF Price Performance

The firm has a market capitalization of $33.87 million, a P/E ratio of -186.08 and a beta of 0.12. The firm’s 50 day moving average is $24.17 and its two-hundred day moving average is $23.73.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in VanEck China Bond ETF stock. Client First Investment Management LLC boosted its position in VanEck China Bond ETF (NYSEARCA:CBON) by 148.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 121,045 shares of the company’s stock after purchasing an additional 72,413 shares during the period. VanEck China Bond ETF comprises 1.4% of Client First Investment Management LLC’s holdings, making the stock its 13th largest position. Client First Investment Management LLC owned about 10.09% of VanEck China Bond ETF worth $2,923,000 at the end of the most recent quarter. Institutional investors own 14.60% of the company’s stock.

About VanEck China Bond ETF

The VanEck China Bond ETF (CBON) is an exchange-traded fund that is based on the ChinaBond China High Quality Bond index. The fund tracks an investment-grade, broad-maturity government\u002Fcredit onshore RMB-denominated China bond index. CBON was launched on Nov 10, 2014 and is managed by VanEck.