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

KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 17,008 shares, a drop of 78.0% from the May 14th total of 77,146 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 28,178 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OLD Mission Capital LLC raised its holdings in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 32.4% in 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 during the last quarter. Jane Street Group LLC raised its holdings in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 59.6% in the fourth quarter. Jane Street Group LLC now owns 22,667 shares of the company’s stock worth $692,000 after buying an additional 8,467 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 2,197.8% in the fourth quarter. Farther Finance Advisors LLC now owns 2,091 shares of the company’s stock worth $64,000 after buying an additional 2,000 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter worth $34,000. Finally, Raymond James Financial Inc. purchased a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the second quarter worth $53,000.

KraneShares Electric Vehicles and Future Mobility Index ETF Stock Performance

KARS traded up $0.54 during trading on Friday, hitting $33.79. The stock had a trading volume of 4,273 shares, compared to its average volume of 30,215. The company has a market capitalization of $91.23 million, a PE ratio of 17.78 and a beta of 1.08. KraneShares Electric Vehicles and Future Mobility Index ETF has a twelve month low of $21.04 and a twelve month high of $38.12. The stock has a 50 day simple moving average of $35.16 and a two-hundred day simple moving average of $32.84.

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.