KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) Sees Significant Drop in Short Interest

KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 30,134 shares, a decrease of 50.9% from the June 15th total of 61,402 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 43,617 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KARS. OLD Mission Capital LLC increased its stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 32.4% during the fourth quarter. OLD Mission Capital LLC now owns 49,260 shares of the company’s stock valued at $1,504,000 after acquiring an additional 12,062 shares during the period. Jane Street Group LLC raised its holdings in KraneShares Electric Vehicles and Future Mobility Index ETF by 59.6% during the fourth quarter. Jane Street Group LLC now owns 22,667 shares of the company’s stock worth $692,000 after purchasing an additional 8,467 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in KraneShares Electric Vehicles and Future Mobility Index ETF in the second quarter worth approximately $53,000. JPL Wealth Management LLC bought a new position in KraneShares Electric Vehicles and Future Mobility Index ETF during the 3rd quarter valued at $34,000. Finally, Farther Finance Advisors LLC boosted its stake in KraneShares Electric Vehicles and Future Mobility Index ETF by 2,197.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,091 shares of the company’s stock valued at $64,000 after purchasing an additional 2,000 shares in the last quarter.

KraneShares Electric Vehicles and Future Mobility Index ETF Trading Up 0.2%

KARS traded up $0.06 on Wednesday, reaching $30.26. The company had a trading volume of 4,051 shares, compared to its average volume of 30,267. The company has a market capitalization of $80.19 million, a P/E ratio of 17.78 and a beta of 1.09. The company has a fifty day moving average of $33.71 and a 200-day moving average of $33.05. KraneShares Electric Vehicles and Future Mobility Index ETF has a one year low of $22.92 and a one year high of $38.12.

About KraneShares Electric Vehicles and Future Mobility Index ETF

The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a modified market-cap-weighted index of stocks that are involved in the production of electric vehicles or other initiatives that may enhance future mobility. KARS was launched on Jan 18, 2018 and is managed by KraneShares.