VanEck J.P. Morgan EM Local Currency Bond ETF (NYSEARCA:EMLC) Short Interest Down 70.0% in August

VanEck J.P. Morgan EM Local Currency Bond ETF (NYSEARCA:EMLC) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,181,776 shares, a decrease of 70.0% from the August 15th total of 3,934,749 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average trading volume of 2,875,247 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On VanEck J.P. Morgan EM Local Currency Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Betterment LLC lifted its position in VanEck J.P. Morgan EM Local Currency Bond ETF by 54.5% during the 2nd quarter. Betterment LLC now owns 58,285 shares of the company’s stock valued at $1,478,000 after acquiring an additional 20,558 shares during the period. Ameriprise Financial Inc. increased its holdings in VanEck J.P. Morgan EM Local Currency Bond ETF by 545.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 568,320 shares of the company’s stock worth $14,407,000 after buying an additional 480,285 shares in the last quarter. Fidelity D & D Bancorp Inc. boosted its holdings in shares of VanEck J.P. Morgan EM Local Currency Bond ETF by 2.0% during the 2nd quarter. Fidelity D & D Bancorp Inc. now owns 92,724 shares of the company’s stock valued at $2,351,000 after acquiring an additional 1,819 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in VanEck J.P. Morgan EM Local Currency Bond ETF by 557.3% in the third quarter. BNP Paribas Financial Markets now owns 1,471,661 shares of the company’s stock worth $37,542,000 after purchasing an additional 1,247,763 shares during the last quarter. Finally, Payden & Rygel bought a new stake in shares of VanEck J.P. Morgan EM Local Currency Bond ETF in the fourth quarter worth $62,884,000.

VanEck J.P. Morgan EM Local Currency Bond ETF Price Performance

Shares of EMLC traded down $0.02 during midday trading on Friday, reaching $25.44. The stock had a trading volume of 2,140,965 shares, compared to its average volume of 3,405,364. The company’s 50-day moving average is $25.54 and its 200 day moving average is $25.54. VanEck J.P. Morgan EM Local Currency Bond ETF has a 12-month low of $24.80 and a 12-month high of $26.63.

About VanEck J.P. Morgan EM Local Currency Bond ETF

Market Vectors Emerging Markets Local Currency Bond ETF (the Fund) seeks to replicate as closely as possible, the price and yield performance of the J.P. Morgan GBI-EMG Core Index (the Index). The Index provides direct exposure to local currency bonds issued by emerging market governments. The Index tracks regularly traded, liquid, fixed-rate, domestic currency debt issues by emerging market governments. The Fund invests at least 80% of its total assets in securities that comprise the Index. The Fund may also utilize convertible securities and derivative instruments, such as swaps, options, warrants, futures contracts, currency forwards, structured notes and participation notes to seek performance that corresponds to the Index.