VanEck ChiNext ETF (NYSEARCA:CNXT – Get Free Report) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 38,687 shares, a drop of 93.4% from the May 31st total of 583,340 shares. Based on an average trading volume of 196,506 shares, the short-interest ratio is presently 0.2 days. Currently, 2.8% of the shares of the company are short sold.
Hedge Funds Weigh In On VanEck ChiNext ETF
Several large investors have recently made changes to their positions in CNXT. Group One Trading LLC boosted its stake in shares of VanEck ChiNext ETF by 1,500.0% in the first 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 purchased a new position in VanEck ChiNext ETF in the 4th quarter worth approximately $147,000. Cetera Investment Advisers bought a new position in VanEck ChiNext ETF in the 1st quarter worth approximately $203,000. Jane Street Group LLC bought a new position in VanEck ChiNext ETF in the 2nd quarter worth approximately $237,000. Finally, LPL Financial LLC purchased a new stake in VanEck ChiNext ETF during the 4th quarter valued at approximately $528,000. 36.93% of the stock is currently owned by hedge funds and other institutional investors.
VanEck ChiNext ETF Trading Up 3.9%
Shares of CNXT traded up $2.32 during trading hours on Thursday, reaching $62.15. 69,508 shares of the stock traded hands, compared to its average volume of 87,208. VanEck ChiNext ETF has a 52-week low of $28.12 and a 52-week high of $62.59. The company’s 50-day moving average price is $55.71 and its two-hundred day moving average price is $49.08. The company has a market cap of $87.01 million, a P/E ratio of 27.22 and a beta of 0.63.
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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