Short Interest in Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Drops By 14.6%

Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 71,098 shares, a drop of 14.6% from the March 31st total of 83,234 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 44,026 shares, the short-interest ratio is currently 1.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of Global X Autonomous & Electric Vehicles ETF by 802.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the technology company’s stock worth $61,000 after buying an additional 1,845 shares during the period. Strive Financial Group LLC purchased a new stake in shares of Global X Autonomous & Electric Vehicles ETF in the 4th quarter worth $80,000. Ameriprise Financial Inc. purchased a new stake in shares of Global X Autonomous & Electric Vehicles ETF in the 3rd quarter worth $230,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Global X Autonomous & Electric Vehicles ETF by 261.2% in the 1st quarter. Jones Financial Companies Lllp now owns 13,107 shares of the technology company’s stock worth $277,000 after buying an additional 9,478 shares during the period. 80.78% of the stock is owned by hedge funds and other institutional investors.

Global X Autonomous & Electric Vehicles ETF Stock Up 1.0%

NASDAQ:DRIV traded up $0.36 on Friday, hitting $37.84. The stock had a trading volume of 212,813 shares, compared to its average volume of 51,666. The stock has a market cap of $408.67 million, a price-to-earnings ratio of -135.14 and a beta of 1.34. The business’s 50-day simple moving average is $32.39 and its two-hundred day simple moving average is $31.25. Global X Autonomous & Electric Vehicles ETF has a 52-week low of $20.80 and a 52-week high of $37.92.

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.