VanEck Robotics ETF (NASDAQ:IBOT) Sees Significant Growth in Short Interest

VanEck Robotics ETF (NASDAQ:IBOT) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 20,749 shares, an increase of 119.2% from the August 31st total of 9,465 shares. Based on an average trading volume of 14,056 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.3% of the shares of the company are sold short.

VanEck Robotics ETF Stock Performance

Shares of IBOT traded up $0.20 during mid-day trading on Tuesday, hitting $64.64. 9,020 shares of the company traded hands, compared to its average volume of 18,079. The stock has a 50-day moving average price of $65.11 and a two-hundred day moving average price of $63.18. VanEck Robotics ETF has a 1 year low of $47.92 and a 1 year high of $69.42. The stock has a market cap of $102.14 million, a price-to-earnings ratio of 27.21 and a beta of 1.36.

Institutional Investors Weigh In On VanEck Robotics ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. First Heartland Consultants Inc. purchased a new position in shares of VanEck Robotics ETF in the 2nd quarter worth $420,000. Tidal Investments LLC increased its position in VanEck Robotics ETF by 16.0% during the second quarter. Tidal Investments LLC now owns 8,631 shares of the company’s stock valued at $594,000 after acquiring an additional 1,191 shares during the last quarter. Finally, Accel Wealth Management increased its position in VanEck Robotics ETF by 30.4% during the second quarter. Accel Wealth Management now owns 14,667 shares of the company’s stock valued at $1,009,000 after acquiring an additional 3,420 shares during the last quarter.

VanEck Robotics ETF Company Profile

The Vaneck Robotics ETF (IBOT) is an exchange-traded fund that is based on the BlueStar Robotics index. The fund tracks an index designed to provide exposure to companies involved in early adoption of commercial and industrial robotics, globally. Stocks are selected based on the amount of revenue tied to the theme IBOT was launched on Apr 5, 2023 and is managed by VanEck.