VanEck ChiNext ETF (NYSEARCA:CNXT) Sees Significant Decline in Short Interest

VanEck ChiNext ETF (NYSEARCA:CNXT) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 47,079 shares, a decrease of 69.8% from the September 30th total of 155,938 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average daily volume of 55,660 shares, the days-to-cover ratio is currently 0.8 days.

VanEck ChiNext ETF Stock Down 2.2%

CNXT opened at $37.35 on Wednesday. VanEck ChiNext ETF has a 52 week low of $37.07 and a 52 week high of $62.59. The business’s 50 day moving average is $45.55 and its two-hundred day moving average is $49.39. The firm has a market cap of $67.23 million, a price-to-earnings ratio of 27.22 and a beta of 0.68.

Hedge Funds Weigh In On VanEck ChiNext ETF

A number of institutional investors have recently modified their holdings of the business. Vontobel Holding Ltd. acquired a new stake in VanEck ChiNext ETF during the 3rd quarter worth $280,000. Cetera Investment Advisers purchased a new position in VanEck ChiNext ETF during the 1st quarter worth $203,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in VanEck ChiNext ETF in the second quarter valued at $323,000. Finally, Group One Trading LLC increased its stake in VanEck ChiNext ETF by 1,500.0% in the first quarter. Group One Trading LLC now owns 3,200 shares of the company’s stock valued at $145,000 after purchasing an additional 3,000 shares during the period. 36.93% of the stock is owned by institutional investors and hedge funds.

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.