Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Shares Shorted: Short Interest Down 51.6% in September

Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 14,660 shares, a decline of 51.6% from the September 15th total of 30,295 shares. Based on an average daily volume of 49,136 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

Global X Autonomous & Electric Vehicles ETF Stock Performance

Shares of NASDAQ DRIV traded down $0.80 during mid-day trading on Wednesday, reaching $31.26. 8,321 shares of the company’s stock were exchanged, compared to its average volume of 55,597. The firm has a market capitalization of $340.10 million, a price-to-earnings ratio of -111.64 and a beta of 1.49. Global X Autonomous & Electric Vehicles ETF has a 52-week low of $27.05 and a 52-week high of $42.76. The company’s 50-day moving average is $34.17 and its 200-day moving average is $35.78.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Adirondack Trust Co. purchased a new stake in shares of Global X Autonomous & Electric Vehicles ETF in the 3rd quarter valued at approximately $42,000. CX Institutional lifted its holdings in shares of Global X Autonomous & Electric Vehicles ETF by 15.1% in the 3rd quarter. CX Institutional now owns 99,913 shares of the technology company’s stock worth $3,309,000 after acquiring an additional 13,112 shares during the last quarter. Finally, First Bancorp Inc ME acquired a new position in shares of Global X Autonomous & Electric Vehicles ETF in the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Global X Autonomous & Electric Vehicles ETF Company Profile

The Global X Autonomous & Electric Vehicles ETF (DRIV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an index that uses artificial intelligence to select global stocks involved in the development, production, or supporting technology of autonomous and electronic vehicles. DRIV was launched on Apr 13, 2018 and is issued by Global X.