VanEck J.P. Morgan EM Local Currency Bond ETF (NYSEARCA:EMLC) Sees Significant Decline in Short Interest

VanEck J.P. Morgan EM Local Currency Bond ETF (NYSEARCA:EMLC) saw a significant decrease in short interest in March. As of March 13th, there was short interest totaling 967,791 shares, a decrease of 87.1% from the February 26th total of 7,504,832 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,169,511 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 7,169,511 shares, the short-interest ratio is currently 0.1 days. Currently, 0.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On VanEck J.P. Morgan EM Local Currency Bond ETF

A number of hedge funds and other institutional investors have recently modified their holdings of EMLC. Silver Grove Financial Group Inc. purchased a new stake in shares of VanEck J.P. Morgan EM Local Currency Bond ETF in the fourth quarter valued at $52,000. Icon Wealth Advisors LLC purchased a new position in shares of VanEck J.P. Morgan EM Local Currency Bond ETF during the fourth quarter valued at $339,000. Janney Montgomery Scott LLC raised its position in VanEck J.P. Morgan EM Local Currency Bond ETF by 12.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 159,395 shares of the company’s stock valued at $4,116,000 after buying an additional 17,872 shares during the period. TIAA Trust National Association raised its position in VanEck J.P. Morgan EM Local Currency Bond ETF by 87.5% during the fourth quarter. TIAA Trust National Association now owns 1,953,251 shares of the company’s stock valued at $50,433,000 after buying an additional 911,546 shares during the period. Finally, Ellevest Inc. lifted its stake in VanEck J.P. Morgan EM Local Currency Bond ETF by 9.2% in the 4th quarter. Ellevest Inc. now owns 49,348 shares of the company’s stock worth $1,274,000 after acquiring an additional 4,140 shares in the last quarter.

VanEck J.P. Morgan EM Local Currency Bond ETF Price Performance

Shares of NYSEARCA:EMLC traded up $0.11 on Wednesday, reaching $25.16. 7,078,160 shares of the company traded hands, compared to its average volume of 5,241,282. The company’s 50 day moving average is $26.04 and its 200-day moving average is $25.76. VanEck J.P. Morgan EM Local Currency Bond ETF has a fifty-two week low of $23.00 and a fifty-two week high of $26.63.

VanEck J.P. Morgan EM Local Currency Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.1204 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, March 2nd.

VanEck J.P. Morgan EM Local Currency Bond ETF Company Profile

Market Vectors Emerging Markets Local Currency Bond ETF (the Fund) seeks to replicate as closely as possible, the price and yield performance of the J.P. Morgan GBI-EMG Core Index (the Index). The Index provides direct exposure to local currency bonds issued by emerging market governments. The Index tracks regularly traded, liquid, fixed-rate, domestic currency debt issues by emerging market governments. The Fund invests at least 80% of its total assets in securities that comprise the Index. The Fund may also utilize convertible securities and derivative instruments, such as swaps, options, warrants, futures contracts, currency forwards, structured notes and participation notes to seek performance that corresponds to the Index.