Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Sees Significant Decrease in Short Interest

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DRIV. Adirondack Trust Co. acquired a new stake in shares of Global X Autonomous & Electric Vehicles ETF during the 3rd quarter worth about $42,000. CX Institutional lifted its stake in Global X Autonomous & Electric Vehicles ETF by 15.1% during the third quarter. CX Institutional now owns 99,913 shares of the technology company’s stock worth $3,309,000 after purchasing an additional 13,112 shares during the last quarter. Finally, First Bancorp Inc ME purchased a new stake in Global X Autonomous & Electric Vehicles ETF during the second 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 Stock Down 2.5%

Global X Autonomous & Electric Vehicles ETF stock traded down $0.80 during midday trading on Wednesday, reaching $31.26. The company’s stock had a trading volume of 8,321 shares, compared to its average volume of 55,597. The company has a market cap of $340.10 million, a P/E ratio of -111.64 and a beta of 1.49. The business has a 50-day simple moving average of $34.17 and a 200-day simple moving average of $35.78. Global X Autonomous & Electric Vehicles ETF has a fifty-two week low of $27.05 and a fifty-two week 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.