VanEck ChiNext ETF (NYSEARCA:CNXT) Sees Significant Growth in Short Interest

VanEck ChiNext ETF (NYSEARCA:CNXT) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 336,722 shares, an increase of 770.4% from the June 15th total of 38,687 shares. Approximately 14.6% of the shares of the company are sold short. Based on an average daily volume of 89,003 shares, the short-interest ratio is presently 3.8 days.

Hedge Funds Weigh In On VanEck ChiNext ETF

A number of large investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in shares of VanEck ChiNext ETF in the 4th quarter worth $989,000. LPL Financial LLC purchased a new stake in shares of VanEck ChiNext ETF in the fourth quarter valued at about $528,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of VanEck ChiNext ETF during the second quarter worth about $323,000. Cetera Investment Advisers acquired a new position in shares of VanEck ChiNext ETF during the first quarter worth about $203,000. Finally, Royal Bank of Canada purchased a new position in VanEck ChiNext ETF during the fourth quarter worth about $147,000. Hedge funds and other institutional investors own 36.93% of the company’s stock.

VanEck ChiNext ETF Trading Down 4.1%

Shares of VanEck ChiNext ETF stock traded down $2.34 during trading hours on Friday, hitting $55.15. 115,844 shares of the company were exchanged, compared to its average volume of 90,146. The business has a 50-day moving average of $57.05 and a 200-day moving average of $50.16. VanEck ChiNext ETF has a 1 year low of $29.24 and a 1 year high of $62.59. The stock has a market capitalization of $121.33 million, a price-to-earnings ratio of 27.22 and a beta of 0.61.

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.