Short Interest in SPDR S&P China ETF (NYSEARCA:GXC) Drops By 73.7%

SPDR S&P China ETF (NYSEARCA:GXC) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 58,435 shares, a drop of 73.7% from the April 15th total of 222,494 shares. Based on an average daily trading volume, of 43,242 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.2% of the company’s shares are short sold.

Hedge Funds Weigh In On SPDR S&P China ETF

A number of institutional investors have recently added to or reduced their stakes in GXC. Jones Financial Companies Lllp lifted its position in SPDR S&P China ETF by 4,448.1% during the first quarter. Jones Financial Companies Lllp now owns 3,593 shares of the company’s stock worth $309,000 after buying an additional 3,514 shares in the last quarter. JPMorgan Chase & Co. lifted its position in SPDR S&P China ETF by 14.4% during the second quarter. JPMorgan Chase & Co. now owns 4,545 shares of the company’s stock worth $398,000 after buying an additional 573 shares in the last quarter. First Trust Advisors LP lifted its position in SPDR S&P China ETF by 11.0% during the second quarter. First Trust Advisors LP now owns 6,170 shares of the company’s stock worth $540,000 after buying an additional 613 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in SPDR S&P China ETF by 136.1% during the second quarter. Qube Research & Technologies Ltd now owns 491 shares of the company’s stock worth $43,000 after buying an additional 283 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in SPDR S&P China ETF during the second quarter worth approximately $122,000.

SPDR S&P China ETF Price Performance

SPDR S&P China ETF stock traded up $2.39 during trading on Wednesday, reaching $99.89. 19,737 shares of the company were exchanged, compared to its average volume of 30,197. SPDR S&P China ETF has a 52-week low of $83.20 and a 52-week high of $107.01. The company has a market capitalization of $504.44 million, a P/E ratio of 12.97 and a beta of 0.36. The stock’s 50 day simple moving average is $95.07 and its two-hundred day simple moving average is $98.67.

About SPDR S&P China ETF

SPDR S&P China ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P/Citigroup BMI China Index (the Index). The Index is a market capitalization-weighted index that defines and measures the investable universe of publicly traded companies domiciled in China, but legally available to foreign investors. The Index is float adjusted, meaning that only those shares publicly available to investors are included in the Index calculation. The Fund uses a passive management strategy designed to track the price and yield performance of the Index.