KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) Short Interest Down 78.0% in May

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. Based on an average daily volume of 28,178 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.6% of the company’s stock are sold short.

KraneShares Electric Vehicles and Future Mobility Index ETF Price Performance

Shares of KARS stock opened at $33.02 on Wednesday. KraneShares Electric Vehicles and Future Mobility Index ETF has a 1-year low of $21.04 and a 1-year high of $38.12. The stock’s 50-day moving average is $35.09 and its 200 day moving average is $32.78. The company has a market cap of $89.15 million, a P/E ratio of 17.78 and a beta of 1.08.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jane Street Group LLC raised its stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 100.9% during the 1st quarter. Jane Street Group LLC now owns 61,567 shares of the company’s stock worth $1,307,000 after acquiring an additional 30,927 shares in the last quarter. OLD Mission Capital LLC raised its stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 32.4% during the 4th quarter. OLD Mission Capital LLC now owns 49,260 shares of the company’s stock worth $1,504,000 after acquiring an additional 12,062 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF during the 2nd quarter worth approximately $53,000. JPL Wealth Management LLC acquired a new stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the 3rd quarter worth $34,000. Finally, Farther Finance Advisors LLC boosted its position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 2,197.8% in the 4th quarter. Farther Finance Advisors LLC now owns 2,091 shares of the company’s stock worth $64,000 after purchasing an additional 2,000 shares in the last quarter.

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.