KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) Shares Shorted: Short Interest Up 48.7% in September

KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 43,903 shares, an increase of 48.7% from the August 31st total of 29,518 shares. Based on an average daily trading volume, of 32,137 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.1% of the shares of the company are short sold.

KraneShares China Internet and Covered Call Strategy ETF Stock Down 1.5%

Shares of NYSEARCA KLIP traded down $0.32 during trading on Friday, reaching $21.48. 29,638 shares of the company traded hands, compared to its average volume of 39,052. The firm has a 50 day simple moving average of $23.33 and a 200-day simple moving average of $24.53. The stock has a market capitalization of $89.36 million, a PE ratio of 16.77 and a beta of 0.42. KraneShares China Internet and Covered Call Strategy ETF has a 52-week low of $21.41 and a 52-week high of $33.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its stake in shares of KraneShares China Internet and Covered Call Strategy ETF by 90.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 20,070 shares of the company’s stock valued at $456,000 after purchasing an additional 9,548 shares during the period. Royal Bank of Canada boosted its holdings in shares of KraneShares China Internet and Covered Call Strategy ETF by 152.0% in the first quarter. Royal Bank of Canada now owns 13,496 shares of the company’s stock worth $347,000 after buying an additional 8,140 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of KraneShares China Internet and Covered Call Strategy ETF by 1.7% in the first quarter. Cetera Investment Advisers now owns 31,107 shares of the company’s stock worth $799,000 after buying an additional 520 shares during the last quarter. Ascentis Independent Advisors bought a new stake in KraneShares China Internet and Covered Call Strategy ETF during the first quarter valued at approximately $138,000. Finally, Private Advisor Group LLC increased its holdings in KraneShares China Internet and Covered Call Strategy ETF by 2.4% during the first quarter. Private Advisor Group LLC now owns 20,765 shares of the company’s stock valued at $534,000 after buying an additional 484 shares during the last quarter.

KraneShares China Internet and Covered Call Strategy ETF Company Profile

The KraneShares Trust – KraneShares China Internet and Covered Call Strategy ETF (KLIP) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund is a fund-of-fund that tracks an index of China-based internet stocks and sells one-month, at-the-money call options on the full amount of the portfolio. KLIP was launched on Jan 12, 2023 and is managed by KraneShares.