VanEck ChiNext ETF (NYSEARCA:CNXT) Sees Large Decrease in Short Interest

VanEck ChiNext ETF (NYSEARCA:CNXT) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 38,687 shares, a decline of 93.4% from the May 31st total of 583,340 shares. Based on an average daily volume of 196,506 shares, the short-interest ratio is presently 0.2 days. Currently, 2.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in shares of VanEck ChiNext ETF during the fourth quarter valued at approximately $989,000. LPL Financial LLC bought a new stake in shares of VanEck ChiNext ETF during the 4th quarter worth approximately $528,000. Cetera Investment Advisers purchased a new position in VanEck ChiNext ETF during the 1st quarter valued at $203,000. Royal Bank of Canada purchased a new position in VanEck ChiNext ETF during the 4th quarter valued at $147,000. Finally, Group One Trading LLC grew its position 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 valued at $145,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 36.93% of the company’s stock.

VanEck ChiNext ETF Stock Down 2.9%

NYSEARCA:CNXT traded down $1.78 during mid-day trading on Friday, hitting $60.37. 63,126 shares of the stock traded hands, compared to its average volume of 87,003. VanEck ChiNext ETF has a 52 week low of $28.12 and a 52 week high of $62.59. The stock has a market capitalization of $84.52 million, a price-to-earnings ratio of 27.22 and a beta of 0.63. The firm’s 50 day moving average is $55.71 and its two-hundred day moving average is $49.08.

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.