VanEck ChiNext ETF (NYSEARCA:CNXT – Get Free Report) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 336,722 shares, an increase of 770.4% from the June 15th total of 38,687 shares. Based on an average trading volume of 89,003 shares, the days-to-cover ratio is presently 3.8 days. Currently, 14.6% of the shares of the stock are short sold.
VanEck ChiNext ETF Stock Performance
Shares of CNXT traded down $2.34 during mid-day trading on Friday, hitting $55.15. 115,844 shares of the stock were exchanged, compared to its average volume of 90,146. The company has a market cap of $121.33 million, a PE ratio of 27.22 and a beta of 0.61. VanEck ChiNext ETF has a 52-week low of $29.24 and a 52-week high of $62.59. The firm has a 50-day moving average of $57.05 and a two-hundred day moving average of $50.21.
Institutional Investors Weigh In On VanEck ChiNext ETF
Hedge funds have recently bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in VanEck ChiNext ETF during the second quarter valued at $323,000. Group One Trading LLC increased its holdings in shares of 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 worth $145,000 after buying an additional 3,000 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of VanEck ChiNext ETF in the 1st quarter worth about $203,000. Royal Bank of Canada purchased a new stake in shares of VanEck ChiNext ETF during the 4th quarter valued at about $147,000. Finally, Jane Street Group LLC purchased a new stake in shares of VanEck ChiNext ETF during the 4th quarter valued at about $989,000. Hedge funds and other institutional investors own 36.93% of the company’s stock.
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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