VanEck ChiNext ETF (NYSEARCA:CNXT) Short Interest Down 67.5% in August

VanEck ChiNext ETF (NYSEARCA:CNXT) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 45,100 shares, a drop of 67.5% from the August 15th total of 138,868 shares. Based on an average daily volume of 76,582 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Group One Trading LLC increased its stake 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 worth $145,000 after acquiring an additional 3,000 shares during the period. Royal Bank of Canada acquired a new position in VanEck ChiNext ETF during the fourth quarter worth about $147,000. Cetera Investment Advisers acquired a new position in shares of VanEck ChiNext ETF during the first quarter worth $203,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of VanEck ChiNext ETF during the second quarter worth about $323,000. Finally, Jane Street Group LLC bought a new stake in VanEck ChiNext ETF during the 2nd quarter worth approximately $237,000. 36.93% of the stock is owned by institutional investors.

VanEck ChiNext ETF Trading Up 0.8%

Shares of NYSEARCA:CNXT traded up $0.36 on Friday, hitting $47.54. The company had a trading volume of 81,978 shares, compared to its average volume of 90,653. The stock has a market cap of $102.21 million, a price-to-earnings ratio of 27.22 and a beta of 0.65. The stock has a 50 day moving average price of $50.44 and a 200 day moving average price of $51.52. VanEck ChiNext ETF has a 1-year low of $39.18 and a 1-year high of $62.59.

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.