REX Drone ETF (NASDAQ:DRNZ) Sees Large Drop in Short Interest

REX Drone ETF (NASDAQ:DRNZ) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totaling 131,987 shares, a decline of 62.4% from the August 31st total of 350,714 shares. Based on an average daily trading volume, of 92,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.3% of the company’s stock are sold short.

Hedge Funds Weigh In On REX Drone ETF

An institutional investor recently bought a new position in REX Drone ETF stock. Box Hill Private Wealth LLC purchased a new stake in REX Drone ETF (NASDAQ:DRNZ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,506 shares of the ETF’s stock, valued at approximately $299,000. Box Hill Private Wealth LLC owned about 0.25% of REX Drone ETF at the end of the most recent reporting period.

REX Drone ETF Stock Down 0.0%

NASDAQ DRNZ traded down $0.01 during trading on Tuesday, reaching $20.09. 103,568 shares of the company’s stock were exchanged, compared to its average volume of 152,137. The company has a 50 day moving average price of $21.54 and a two-hundred day moving average price of $23.55. REX Drone ETF has a 1 year low of $18.00 and a 1 year high of $30.12.

REX Drone ETF (NASDAQ: DRNZ) is an exchange-traded fund designed to provide investors with targeted exposure to companies participating in the drone and unmanned aerial systems (UAS) ecosystem. The fund focuses on businesses whose primary activities support the design, manufacture, operation, enabling technologies or services for aerial uncrewed systems. As a thematic ETF, DRNZ aims to concentrate holdings in a specific industry segment rather than track broad-market benchmarks.

Holdings in the fund typically reflect a cross-section of the drone value chain, including manufacturers of airframes and propulsion systems, developers of autonomy and navigation software, suppliers of sensors and communications equipment, and companies providing operational services such as commercial drone operations, mapping, inspection and logistics.