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

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

VanEck ChiNext ETF Trading Up 1.6%

NYSEARCA CNXT traded up $0.70 on Friday, hitting $43.76. 32,468 shares of the company’s stock were exchanged, compared to its average volume of 89,136. The stock has a 50-day moving average of $48.23 and a 200-day moving average of $51.60. VanEck ChiNext ETF has a 52 week low of $39.18 and a 52 week high of $62.59. The stock has a market cap of $91.90 million, a price-to-earnings ratio of 27.22 and a beta of 0.68.

Hedge Funds Weigh In On VanEck ChiNext ETF

A number of institutional investors have recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in VanEck ChiNext ETF during the second quarter worth about $323,000. Cetera Investment Advisers bought a new position in shares of VanEck ChiNext ETF in the first quarter worth about $203,000. Finally, Group One Trading LLC boosted its stake in shares of 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 purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 36.93% of the company’s stock.

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.