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 target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 30,134 shares, a decline of 50.9% from the June 15th total of 61,402 shares. Based on an average daily trading volume, of 43,617 shares, the short-interest ratio is currently 0.7 days. Currently, 1.1% of the shares of the company are sold short.

KraneShares Electric Vehicles and Future Mobility Index ETF Stock Up 0.2%

KARS stock traded up $0.06 during midday trading on Wednesday, reaching $30.26. The company had a trading volume of 4,051 shares, compared to its average volume of 30,267. The stock has a 50 day moving average price of $33.71 and a 200 day moving average price of $33.05. The firm has a market capitalization of $80.19 million, a PE ratio of 17.78 and a beta of 1.09. KraneShares Electric Vehicles and Future Mobility Index ETF has a fifty-two week low of $22.92 and a fifty-two week high of $38.12.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. OLD Mission Capital LLC lifted its stake in 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 valued at $1,504,000 after buying an additional 12,062 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 59.6% during the fourth quarter. Jane Street Group LLC now owns 22,667 shares of the company’s stock valued at $692,000 after acquiring an additional 8,467 shares during the period. Raymond James Financial Inc. bought a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF during the second quarter worth about $53,000. JPL Wealth Management LLC bought a new position in KraneShares Electric Vehicles and Future Mobility Index ETF in the 3rd quarter worth about $34,000. Finally, Farther Finance Advisors LLC grew its holdings in 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 buying 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.