Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Sees Large Increase in Short Interest

Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 60,021 shares, an increase of 447.4% from the October 15th total of 10,964 shares. Based on an average daily volume of 56,769 shares, the short-interest ratio is presently 1.1 days. Currently, 0.6% of the shares of the stock are sold short.

Institutional Trading of Global X Autonomous & Electric Vehicles ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. CX Institutional raised its position in Global X Autonomous & Electric Vehicles ETF by 0.7% in the 2nd quarter. CX Institutional now owns 86,801 shares of the technology company’s stock worth $3,348,000 after purchasing an additional 613 shares during the last quarter. First Bancorp Inc ME acquired a new stake in shares of Global X Autonomous & Electric Vehicles ETF in the 2nd quarter valued at $77,000. Harbour Investments Inc. acquired a new stake in shares of Global X Autonomous & Electric Vehicles ETF in the 3rd quarter valued at $65,000. Finally, Adirondack Trust Co. bought a new stake in shares of Global X Autonomous & Electric Vehicles ETF during the third quarter worth $42,000. Institutional investors and hedge funds own 80.78% of the company’s stock.

Global X Autonomous & Electric Vehicles ETF Trading Up 1.5%

Shares of Global X Autonomous & Electric Vehicles ETF stock opened at $29.51 on Wednesday. The firm’s 50-day moving average price is $32.07 and its two-hundred day moving average price is $34.32. Global X Autonomous & Electric Vehicles ETF has a 1-year low of $27.05 and a 1-year high of $42.76. The stock has a market capitalization of $301.85 million, a price-to-earnings ratio of -105.43 and a beta of 1.51.

Global X Autonomous & Electric Vehicles ETF Company Profile

The Global X Autonomous & Electric Vehicles ETF (DRIV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an index that uses artificial intelligence to select global stocks involved in the development, production, or supporting technology of autonomous and electronic vehicles. DRIV was launched on Apr 13, 2018 and is issued by Global X.