VanEck ChiNext ETF (NYSEARCA:CNXT – Get Free Report) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 322,915 shares, an increase of 306.8% from the April 15th total of 79,375 shares. Approximately 23.1% of the company’s shares are short sold. Based on an average daily volume of 84,708 shares, the days-to-cover ratio is presently 3.8 days.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC increased its position in VanEck ChiNext ETF by 1,500.0% during the 1st 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. Royal Bank of Canada purchased a new position in VanEck ChiNext ETF during the 4th quarter valued at $147,000. Cetera Investment Advisers bought a new stake in shares of VanEck ChiNext ETF during the 1st quarter valued at $203,000. Jane Street Group LLC bought a new stake in shares of VanEck ChiNext ETF during the 2nd quarter valued at $237,000. Finally, LPL Financial LLC bought a new stake in shares of VanEck ChiNext ETF during the 4th quarter valued at $528,000. 36.93% of the stock is owned by hedge funds and other institutional investors.
VanEck ChiNext ETF Price Performance
VanEck ChiNext ETF stock traded down $1.13 during mid-day trading on Friday, reaching $55.67. 166,897 shares of the company traded hands, compared to its average volume of 67,727. The firm’s 50 day moving average price is $49.07 and its 200 day moving average price is $45.96. The firm has a market capitalization of $77.94 million, a price-to-earnings ratio of 27.22 and a beta of 0.60. VanEck ChiNext ETF has a 52-week low of $26.06 and a 52-week high of $58.13.
About VanEck ChiNext ETF
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.
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