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 the month of 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 daily volume of 32,137 shares, the short-interest ratio is currently 1.4 days. Approximately 1.1% of the shares of the company are sold short.

Institutional Investors Weigh In On KraneShares China Internet and Covered Call Strategy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its position 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 purchasing an additional 9,548 shares during the period. Royal Bank of Canada raised its position in shares of KraneShares China Internet and Covered Call Strategy ETF by 152.0% during the 1st quarter. Royal Bank of Canada now owns 13,496 shares of the company’s stock valued at $347,000 after purchasing an additional 8,140 shares during the period. Cetera Investment Advisers raised its position in shares of KraneShares China Internet and Covered Call Strategy ETF by 1.7% during the 1st quarter. Cetera Investment Advisers now owns 31,107 shares of the company’s stock valued at $799,000 after purchasing an additional 520 shares during the period. Private Advisor Group LLC lifted its stake in shares of KraneShares China Internet and Covered Call Strategy ETF by 2.4% during the 1st 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 in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of KraneShares China Internet and Covered Call Strategy ETF during the 1st quarter valued at $460,000.

KraneShares China Internet and Covered Call Strategy ETF Stock Down 0.0%

KLIP traded down $0.01 during midday trading on Thursday, reaching $21.80. The company had a trading volume of 24,014 shares, compared to its average volume of 39,150. The business has a 50-day moving average of $23.37 and a two-hundred day moving average of $24.57. KraneShares China Internet and Covered Call Strategy ETF has a 1 year low of $21.70 and a 1 year high of $33.56. The company has a market cap of $90.69 million, a P/E ratio of 16.77 and a beta of 0.41.

About KraneShares China Internet and Covered Call Strategy ETF

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.