Short Interest in iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) Drops By 55.1%

iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 69,881 shares, a decline of 55.1% from the June 15th total of 155,664 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 17,826 shares, the short-interest ratio is currently 3.9 days.

iShares MSCI China Multisector Tech ETF Price Performance

NASDAQ:TCHI traded down $0.09 during mid-day trading on Wednesday, reaching $24.68. The stock had a trading volume of 10,734 shares, compared to its average volume of 20,846. The company has a market capitalization of $46.89 million, a price-to-earnings ratio of 17.30 and a beta of 0.62. iShares MSCI China Multisector Tech ETF has a 1-year low of $20.38 and a 1-year high of $27.50. The stock’s 50 day simple moving average is $25.20 and its two-hundred day simple moving average is $24.05.

iShares MSCI China Multisector Tech ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were given a $0.0789 dividend. The ex-dividend date was Monday, June 15th.

Hedge Funds Weigh In On iShares MSCI China Multisector Tech ETF

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new stake in iShares MSCI China Multisector Tech ETF during the fourth quarter valued at $32,000. Osaic Holdings Inc. grew its position in shares of iShares MSCI China Multisector Tech ETF by 10,956.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock valued at $35,000 after buying an additional 1,753 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of iShares MSCI China Multisector Tech ETF during the 4th quarter valued at about $152,000. GWN Securities Inc. acquired a new stake in iShares MSCI China Multisector Tech ETF during the fourth quarter worth about $278,000. Finally, Jane Street Group LLC bought a new position in iShares MSCI China Multisector Tech ETF in the second quarter worth about $328,000.

About iShares MSCI China Multisector Tech ETF

The iShares MSCI China Multisector Tech ETF (TCHI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market cap-weighted index of large- and mid-cap Chinese equities in technology and technology-related industries. TCHI was launched on Jan 25, 2022 and is managed by BlackRock.