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 recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 6,856 shares, a drop of 31.2% from the February 26th total of 9,963 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 18,756 shares, the days-to-cover ratio is currently 0.4 days.

KraneShares Electric Vehicles and Future Mobility Index ETF Price Performance

Shares of NYSEARCA:KARS traded up $0.21 during midday trading on Friday, hitting $31.43. 5,953 shares of the company’s stock were exchanged, compared to its average volume of 18,157. KraneShares Electric Vehicles and Future Mobility Index ETF has a 12 month low of $17.44 and a 12 month high of $33.73. The company has a market cap of $75.43 million, a PE ratio of 17.78 and a beta of 1.19. The stock has a 50 day moving average price of $32.08 and a 200-day moving average price of $31.12.

Institutional Trading of KraneShares Electric Vehicles and Future Mobility Index ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Q3 Asset Management bought a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter valued at approximately $1,075,000. OLD Mission Capital LLC grew its holdings in 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 worth $1,504,000 after buying an additional 12,062 shares in the last quarter. Jane Street Group LLC grew its holdings in KraneShares Electric Vehicles and Future Mobility Index ETF by 100.9% during the first quarter. Jane Street Group LLC now owns 61,567 shares of the company’s stock worth $1,307,000 after buying an additional 30,927 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in KraneShares Electric Vehicles and Future Mobility Index ETF in the 2nd quarter valued at $53,000. Finally, JPL Wealth Management LLC purchased a new stake in KraneShares Electric Vehicles and Future Mobility Index ETF in the 3rd quarter valued at $34,000.

KraneShares Electric Vehicles and Future Mobility Index ETF Company Profile

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.