REX Drone ETF (NASDAQ:DRNZ) Sees Significant Increase in Short Interest

REX Drone ETF (NASDAQ:DRNZ) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 865,415 shares, an increase of 818.9% from the May 14th total of 94,177 shares. Currently, 25.8% of the company’s shares are short sold. Based on an average trading volume of 266,265 shares, the days-to-cover ratio is currently 3.3 days.

REX Drone ETF Trading Up 5.3%

Shares of DRNZ opened at $25.02 on Friday. The stock has a 50 day simple moving average of $25.53 and a 200 day simple moving average of $24.50. REX Drone ETF has a 52-week low of $18.00 and a 52-week high of $30.12.

Institutional Investors Weigh In On REX Drone ETF

An institutional investor recently bought a new position in REX Drone ETF stock. Jane Street Group LLC purchased a new stake in REX Drone ETF (NASDAQ:DRNZ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,800 shares of the ETF’s stock, valued at approximately $801,000. Jane Street Group LLC owned 1.71% of REX Drone ETF at the end of the most recent quarter.

REX Drone ETF (NASDAQ: DRNZ) is an exchange-traded fund designed to provide investors with targeted exposure to companies participating in the drone and unmanned aerial systems (UAS) ecosystem. The fund focuses on businesses whose primary activities support the design, manufacture, operation, enabling technologies or services for aerial uncrewed systems. As a thematic ETF, DRNZ aims to concentrate holdings in a specific industry segment rather than track broad-market benchmarks.

Holdings in the fund typically reflect a cross-section of the drone value chain, including manufacturers of airframes and propulsion systems, developers of autonomy and navigation software, suppliers of sensors and communications equipment, and companies providing operational services such as commercial drone operations, mapping, inspection and logistics.