VanEck ChiNext ETF (NYSEARCA:CNXT) Shares Shorted: Short Interest Down 69.8% in October

VanEck ChiNext ETF (NYSEARCA:CNXT) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 47,079 shares, a decline of 69.8% from the September 30th total of 155,938 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 55,660 shares, the days-to-cover ratio is presently 0.8 days.

VanEck ChiNext ETF Trading Down 3.9%

VanEck ChiNext ETF stock traded down $1.41 during midday trading on Friday, reaching $34.76. 107,521 shares of the stock traded hands, compared to its average volume of 86,921. The firm has a market cap of $62.57 million, a PE ratio of 27.22 and a beta of 0.68. The company has a 50-day simple moving average of $44.99 and a two-hundred day simple moving average of $49.30. VanEck ChiNext ETF has a 12-month low of $34.55 and a 12-month high of $62.59.

Institutional Investors Weigh In On VanEck ChiNext ETF

Hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. acquired a new stake in VanEck ChiNext ETF in the 3rd quarter valued at about $280,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of VanEck ChiNext ETF during the second quarter worth $323,000. Group One Trading LLC grew its holdings in VanEck ChiNext ETF by 1,500.0% in the 1st quarter. Group One Trading LLC now owns 3,200 shares of the company’s stock valued at $145,000 after buying an additional 3,000 shares during the period. Finally, Cetera Investment Advisers acquired a new position in VanEck ChiNext ETF during the first quarter worth approximately $203,000. 36.93% of the stock is owned by institutional investors and hedge funds.

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.