Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Shares Shorted: Short Interest Up 447.4% in October

Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) was the target of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 60,021 shares, an increase of 447.4% from the October 15th total of 10,964 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 56,769 shares, the short-interest ratio is presently 1.1 days.

Institutional Trading of Global X Autonomous & Electric Vehicles ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of DRIV. CX Institutional boosted its stake in shares of Global X Autonomous & Electric Vehicles ETF by 0.7% during the second quarter. CX Institutional now owns 86,801 shares of the technology company’s stock valued at $3,348,000 after purchasing an additional 613 shares during the period. Adirondack Trust Co. purchased a new position in Global X Autonomous & Electric Vehicles ETF in the 3rd quarter worth about $42,000. Harbour Investments Inc. purchased a new position in Global X Autonomous & Electric Vehicles ETF in the 3rd quarter worth about $65,000. Finally, First Bancorp Inc ME purchased a new position in Global X Autonomous & Electric Vehicles ETF in the 2nd quarter worth about $77,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Global X Autonomous & Electric Vehicles ETF Price Performance

Shares of DRIV traded down $0.54 during mid-day trading on Friday, reaching $28.39. 10,371 shares of the company’s stock traded hands, compared to its average volume of 54,318. The stock has a market cap of $290.38 million, a P/E ratio of -101.39 and a beta of 1.51. The stock’s 50-day moving average is $31.88 and its two-hundred day moving average is $34.28. Global X Autonomous & Electric Vehicles ETF has a 12 month low of $27.05 and a 12 month high of $42.76.

About Global X Autonomous & Electric Vehicles ETF

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.