iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) Short Interest Down 78.7% in March

iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,900 shares, a decrease of 78.7% from the February 29th total of 13,600 shares. Based on an average daily trading volume, of 7,000 shares, the days-to-cover ratio is presently 0.4 days.

iShares MSCI China Multisector Tech ETF Stock Performance

NASDAQ:TCHI traded up $0.19 during midday trading on Thursday, reaching $16.20. 212 shares of the stock traded hands, compared to its average volume of 6,403. The company has a fifty day moving average of $15.60 and a 200 day moving average of $16.48. iShares MSCI China Multisector Tech ETF has a 12 month low of $14.00 and a 12 month high of $20.05. The stock has a market capitalization of $6.48 million, a P/E ratio of 13.76 and a beta of 0.33.

Institutional Investors Weigh In On iShares MSCI China Multisector Tech ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in iShares MSCI China Multisector Tech ETF during the 1st quarter valued at $6,091,000. Jane Street Group LLC bought a new position in iShares MSCI China Multisector Tech ETF in the 1st quarter worth $355,000. Brookstone Capital Management bought a new position in iShares MSCI China Multisector Tech ETF in the 4th quarter worth $189,000. Finally, UBS Group AG raised its holdings in iShares MSCI China Multisector Tech ETF by 132.0% in the 2nd quarter. UBS Group AG now owns 1,522 shares of the company’s stock worth $33,000 after purchasing an additional 866 shares in the last quarter.

About iShares MSCI China Multisector Tech ETF

The iShares MSCI China Multisector Tech ETF (TCHI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market cap-weighted index of large- and mid-cap Chinese equities in technology and technology-related industries. TCHI was launched on Jan 25, 2022 and is managed by BlackRock.