Short Interest in Dingdong (Cayman) Limited (NYSE:DDL) Drops By 5.6%

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 795,500 shares, a drop of 5.6% from the September 30th total of 843,000 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 952,600 shares, the short-interest ratio is currently 0.8 days.

Dingdong (Cayman) Stock Down 7.0 %

Shares of DDL opened at $3.72 on Friday. Dingdong has a one year low of $1.07 and a one year high of $4.19. The business has a fifty day moving average of $3.03 and a 200 day moving average of $2.25.

Institutional Investors Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in shares of Dingdong (Cayman) by 63.4% in the second quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock worth $1,373,000 after buying an additional 267,700 shares during the last quarter. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) during the first quarter valued at approximately $54,000. Acadian Asset Management LLC bought a new position in Dingdong (Cayman) in the second quarter worth approximately $86,000. Finally, Vanguard Group Inc. boosted its stake in shares of Dingdong (Cayman) by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after acquiring an additional 17,900 shares during the last quarter. Hedge funds and other institutional investors own 24.66% of the company’s stock.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.