Short Interest in VanEck ChiNext ETF (NYSEARCA:CNXT) Drops By 51.5%

VanEck ChiNext ETF (NYSEARCA:CNXT) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 61,494 shares, a drop of 51.5% from the July 15th total of 126,734 shares. Based on an average trading volume of 78,046 shares, the short-interest ratio is presently 0.8 days. Currently, 2.9% of the company’s shares are short sold.

VanEck ChiNext ETF Stock Performance

VanEck ChiNext ETF stock traded down $1.07 during mid-day trading on Tuesday, hitting $52.60. The company’s stock had a trading volume of 30,916 shares, compared to its average volume of 91,237. The company has a 50 day moving average of $54.21 and a 200-day moving average of $51.13. The stock has a market cap of $113.09 million, a PE ratio of 27.22 and a beta of 0.64. VanEck ChiNext ETF has a one year low of $34.66 and a one year high of $62.59.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Group One Trading LLC increased its stake 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 worth $145,000 after buying an additional 3,000 shares during the period. Royal Bank of Canada bought a new position in VanEck ChiNext ETF in the 4th quarter worth about $147,000. Cetera Investment Advisers purchased a new position in shares of VanEck ChiNext ETF during the first quarter worth approximately $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 valued at approximately $323,000. Finally, Jane Street Group LLC bought a new position in VanEck ChiNext ETF in the second quarter worth approximately $237,000. 36.93% of the stock is currently owned by institutional investors.

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.