The Defiance Quantum ETF (NASDAQ:QTUM) Stock Short Interest Drops 44.9%

The Defiance Quantum ETF (NASDAQ:QTUM) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 422,943 shares, a drop of 44.9% from the September 30th total of 768,086 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 359,218 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Defiance Quantum ETF

A number of large investors have recently added to or reduced their stakes in QTUM. Janney Montgomery Scott LLC lifted its position in shares of Defiance Quantum ETF by 2.7% during the first quarter. Janney Montgomery Scott LLC now owns 51,496 shares of the company’s stock valued at $5,526,000 after buying an additional 1,342 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Defiance Quantum ETF by 25.7% during the third quarter. Farther Finance Advisors LLC now owns 23,457 shares of the company’s stock valued at $3,556,000 after acquiring an additional 4,790 shares during the last quarter. Compass Financial Management LLC purchased a new stake in Defiance Quantum ETF during the second quarter valued at approximately $3,290,000. TOP Private Wealth LLC. acquired a new stake in Defiance Quantum ETF in the second quarter valued at approximately $2,703,000. Finally, Wedbush Securities Inc. acquired a new stake in Defiance Quantum ETF in the second quarter valued at approximately $1,938,000.

Defiance Quantum ETF Stock Performance

NASDAQ:QTUM traded down $7.31 during trading hours on Friday, reaching $133.83. The company’s stock had a trading volume of 625,603 shares, compared to its average volume of 463,426. The stock has a 50 day moving average price of $146.95 and a two-hundred day moving average price of $137.61. The company has a market capitalization of $5.05 billion, a P/E ratio of 24.34 and a beta of 1.37. Defiance Quantum ETF has a 12 month low of $98.21 and a 12 month high of $170.00.

About Defiance Quantum ETF

The Defiance Quantum ETF (QTUM) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an adjusted-equal-weighted index of companies involved in the research and development of quantum computers. QTUM was launched on Sep 5, 2018 and is managed by Defiance.