Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Short Interest Up 29.4% in March

Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 83,234 shares, an increase of 29.4% from the March 15th total of 64,303 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 32,401 shares, the short-interest ratio is currently 2.6 days.

Global X Autonomous & Electric Vehicles ETF Stock Performance

NASDAQ DRIV traded up $0.74 during trading hours on Friday, reaching $35.72. The company’s stock had a trading volume of 7,310 shares, compared to its average volume of 49,414. The stock has a market cap of $387.54 million, a PE ratio of -127.54 and a beta of 1.34. Global X Autonomous & Electric Vehicles ETF has a fifty-two week low of $18.84 and a fifty-two week high of $35.70. The company’s 50-day moving average is $31.73 and its two-hundred day moving average is $30.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in shares of Global X Autonomous & Electric Vehicles ETF by 261.2% during the 1st quarter. Jones Financial Companies Lllp now owns 13,107 shares of the technology company’s stock worth $277,000 after acquiring an additional 9,478 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Global X Autonomous & Electric Vehicles ETF during the third quarter valued at approximately $230,000. Strive Financial Group LLC purchased a new stake in shares of Global X Autonomous & Electric Vehicles ETF during the fourth quarter valued at approximately $80,000. Finally, Farther Finance Advisors LLC boosted its holdings in Global X Autonomous & Electric Vehicles ETF by 802.2% in the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the technology company’s stock valued at $61,000 after purchasing an additional 1,845 shares during the last quarter. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

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.