VanEck China Bond ETF (NYSEARCA:CBON) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

VanEck China Bond ETF (NYSEARCA:CBON)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $24.17 and traded as high as $24.23. VanEck China Bond ETF shares last traded at $24.19, with a volume of 4,607 shares.

VanEck China Bond ETF Trading Up 0.2%

The firm’s 50 day simple moving average is $24.17 and its two-hundred day simple moving average is $23.73. The firm has a market cap of $33.87 million, a price-to-earnings ratio of -186.08 and a beta of 0.12.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in VanEck China Bond ETF stock. Client First Investment Management LLC lifted its holdings in shares of VanEck China Bond ETF (NYSEARCA:CBON) by 148.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,045 shares of the company’s stock after purchasing an additional 72,413 shares during the quarter. VanEck China Bond ETF accounts for 1.4% of Client First Investment Management LLC’s holdings, making the stock its 13th largest position. Client First Investment Management LLC owned 10.09% of VanEck China Bond ETF worth $2,923,000 as of its most recent SEC filing. 14.60% of the stock is currently owned by hedge funds and other institutional investors.

About VanEck China Bond ETF

The VanEck China Bond ETF (CBON) is an exchange-traded fund that is based on the ChinaBond China High Quality Bond index. The fund tracks an investment-grade, broad-maturity government\u002Fcredit onshore RMB-denominated China bond index. CBON was launched on Nov 10, 2014 and is managed by VanEck.