VanEck Robotics ETF (NASDAQ:IBOT) Sees Large Growth in Short Interest

VanEck Robotics ETF (NASDAQ:IBOT) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 39,617 shares, a growth of 125.8% from the April 30th total of 17,542 shares. Based on an average daily trading volume, of 24,888 shares, the short-interest ratio is currently 1.6 days. Approximately 3.6% of the company’s shares are sold short.

VanEck Robotics ETF Price Performance

NASDAQ IBOT traded up $0.13 during mid-day trading on Monday, reaching $66.14. 31,181 shares of the stock were exchanged, compared to its average volume of 18,590. The stock has a market cap of $72.75 million, a P/E ratio of 27.21 and a beta of 1.38. The stock has a 50 day simple moving average of $60.25 and a 200-day simple moving average of $56.82. VanEck Robotics ETF has a one year low of $42.35 and a one year high of $67.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Accel Wealth Management lifted its position in shares of VanEck Robotics ETF by 8.8% during the fourth quarter. Accel Wealth Management now owns 9,867 shares of the company’s stock valued at $519,000 after purchasing an additional 800 shares in the last quarter. Glassman Wealth Services bought a new stake in shares of VanEck Robotics ETF in the third quarter valued at approximately $79,000. Jane Street Group LLC bought a new stake in shares of VanEck Robotics ETF in the first quarter valued at approximately $256,000. Finally, Avestar Capital LLC bought a new stake in shares of VanEck Robotics ETF in the third quarter valued at approximately $1,983,000.

VanEck Robotics ETF Company Profile

The Vaneck Robotics ETF (IBOT) is an exchange-traded fund that is based on the BlueStar Robotics index. The fund tracks an index designed to provide exposure to companies involved in early adoption of commercial and industrial robotics, globally. Stocks are selected based on the amount of revenue tied to the theme IBOT was launched on Apr 5, 2023 and is managed by VanEck.