Short Interest in Emerging Markets Internet ETF (NYSEARCA:EMQQ) Drops By 80.6%
by Tristan Rich · The Markets DailyEmerging Markets Internet ETF (NYSEARCA:EMQQ – Get Free Report) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 8,040 shares, a decrease of 80.6% from the May 31st total of 41,450 shares. Based on an average daily trading volume, of 53,088 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are sold short.
Emerging Markets Internet ETF Trading Up 1.7%
Shares of EMQQ traded up $0.51 during trading hours on Friday, reaching $30.65. 56,299 shares of the company traded hands, compared to its average volume of 61,309. The firm has a market cap of $249.80 million, a price-to-earnings ratio of 21.93 and a beta of 0.61. The stock’s fifty day moving average price is $32.85 and its 200 day moving average price is $35.99. Emerging Markets Internet ETF has a 12-month low of $30.00 and a 12-month high of $47.00.
Hedge Funds Weigh In On Emerging Markets Internet ETF
Several institutional investors have recently made changes to their positions in EMQQ. Venturi Wealth Management LLC raised its holdings in shares of Emerging Markets Internet ETF by 517.8% in the 1st quarter. Venturi Wealth Management LLC now owns 58,594 shares of the company’s stock valued at $1,938,000 after purchasing an additional 49,110 shares in the last quarter. Sankala Group LLC acquired a new position in Emerging Markets Internet ETF during the 4th quarter valued at approximately $2,187,000. RPg Family Wealth Advisory LLC grew its stake in Emerging Markets Internet ETF by 3.1% during the 4th quarter. RPg Family Wealth Advisory LLC now owns 66,898 shares of the company’s stock valued at $2,700,000 after purchasing an additional 2,006 shares during the last quarter. Jessup Wealth Management Inc purchased a new position in Emerging Markets Internet ETF during the 4th quarter worth approximately $73,000. Finally, Stronghold Wealth Management L.L.C. acquired a new position in shares of Emerging Markets Internet ETF in the 4th quarter valued at about $283,000.
About Emerging Markets Internet ETF
The EMQQ Emerging Markets Internet & Ecommerce ETF (EMQQ) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a cap-weighted index of companies producing most of their revenue from internet or ecommerce activity in emerging markets. EMQQ was launched on Nov 13, 2014 and is managed by EMQQ.