Global X FinTech ETF (NASDAQ:FINX) Sees Large Drop in Short Interest

Global X FinTech ETF (NASDAQ:FINX) was the recipient of a significant drop in short interest in August. As of August 14th, there was short interest totaling 246,402 shares, a drop of 34.3% from the July 30th total of 375,304 shares. Based on an average daily volume of 72,814 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On Global X FinTech ETF

Several large investors have recently made changes to their positions in FINX. Sherman Asset Management Inc. purchased a new position in Global X FinTech ETF during the 1st quarter valued at approximately $27,000. NewEdge Advisors LLC grew its holdings in shares of Global X FinTech ETF by 51.4% in the first quarter. NewEdge Advisors LLC now owns 1,157 shares of the company’s stock valued at $32,000 after purchasing an additional 393 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Global X FinTech ETF by 75.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,196 shares of the company’s stock valued at $35,000 after purchasing an additional 516 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Global X FinTech ETF in the fourth quarter worth $50,000. Finally, Banque Cantonale Vaudoise bought a new stake in Global X FinTech ETF in the third quarter worth $73,000.

Global X FinTech ETF Trading Up 1.9%

FINX traded up $0.50 on Wednesday, hitting $26.75. 19,489 shares of the company’s stock traded hands, compared to its average volume of 87,994. The company’s 50 day simple moving average is $26.00 and its 200-day simple moving average is $25.08. Global X FinTech ETF has a one year low of $22.08 and a one year high of $35.58. The firm has a market cap of $175.21 million, a price-to-earnings ratio of 31.36 and a beta of 1.53.

Global X FinTech ETF Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 29th were issued a $0.0429 dividend. The ex-dividend date was Monday, June 29th.

About Global X FinTech ETF

The Global X FinTech ETF (FINX) is an exchange-traded fund that is based on the Indxx Global Fintech Thematic index, a market-cap-weighted index of companies in developed markets that derive significant revenues from providing financial technology products and services. FINX was launched on Sep 12, 2016 and is managed by Global X.