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

VanEck ChiNext ETF (NYSEARCA:CNXT) was the target of a large drop in short interest in 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. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 78,046 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Group One Trading LLC increased its holdings 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 valued at $145,000 after purchasing an additional 3,000 shares in the last quarter. Royal Bank of Canada acquired a new stake in shares of VanEck ChiNext ETF in the fourth quarter valued at $147,000. Cetera Investment Advisers acquired a new stake in shares of VanEck ChiNext ETF in the first quarter valued at $203,000. Jane Street Group LLC bought a new position in shares of VanEck ChiNext ETF in the second quarter valued at about $237,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of VanEck ChiNext ETF in the second quarter valued at about $323,000. 36.93% of the stock is owned by institutional investors and hedge funds.

VanEck ChiNext ETF Stock Up 0.6%

NYSEARCA:CNXT traded up $0.33 on Friday, reaching $51.94. The stock had a trading volume of 19,129 shares, compared to its average volume of 91,335. The company has a market capitalization of $111.67 million, a P/E ratio of 27.22 and a beta of 0.64. VanEck ChiNext ETF has a 1-year low of $33.82 and a 1-year high of $62.59. The stock has a fifty day moving average price of $54.22 and a 200-day moving average price of $51.08.

VanEck ChiNext ETF Company Profile

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.