VanEck ChiNext ETF (NYSEARCA:CNXT) Stock Short Interest Jumps 437.5%

VanEck ChiNext ETF (NYSEARCA:CNXT) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 155,938 shares, an increase of 437.5% from the September 15th total of 29,014 shares. Approximately 7.4% of the company’s stock are short sold. Based on an average daily trading volume, of 97,749 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers bought a new stake in shares of VanEck ChiNext ETF in the 1st quarter worth about $203,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in VanEck ChiNext ETF in the second quarter valued at about $323,000. Finally, Group One Trading LLC increased its holdings in 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 valued at $145,000 after buying an additional 3,000 shares during the last quarter. 36.93% of the stock is owned by institutional investors and hedge funds.

VanEck ChiNext ETF Stock Performance

Shares of CNXT stock traded up $0.70 during mid-day trading on Friday, reaching $43.76. 32,468 shares of the company were exchanged, compared to its average volume of 89,136. The business’s 50 day simple moving average is $48.23 and its 200 day simple moving average is $51.56. The company has a market capitalization of $91.90 million, a P/E ratio of 27.22 and a beta of 0.68. VanEck ChiNext ETF has a fifty-two week low of $39.18 and a fifty-two week high of $62.59.

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.