KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) Stock Short Interest Rises 48.7%

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

KraneShares China Internet and Covered Call Strategy ETF Price Performance

Shares of NYSEARCA KLIP traded down $0.01 during mid-day trading on Thursday, reaching $21.80. The company’s stock had a trading volume of 24,014 shares, compared to its average volume of 39,150. KraneShares China Internet and Covered Call Strategy ETF has a 52 week low of $21.70 and a 52 week high of $33.56. The stock has a fifty day moving average of $23.37 and a two-hundred day moving average of $24.57. The firm has a market capitalization of $90.69 million, a PE ratio of 16.77 and a beta of 0.41.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KLIP. Ascentis Independent Advisors purchased a new stake in KraneShares China Internet and Covered Call Strategy ETF during the 1st quarter valued at approximately $138,000. Royal Bank of Canada lifted 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 in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of KraneShares China Internet and Covered Call Strategy ETF in the first quarter worth $460,000. Integrated Wealth Concepts LLC lifted its holdings in shares of KraneShares China Internet and Covered Call Strategy ETF by 90.7% in the second quarter. Integrated Wealth Concepts LLC now owns 20,070 shares of the company’s stock worth $456,000 after buying an additional 9,548 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of 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 worth $534,000 after acquiring 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.