KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA) Sees Significant Drop in Short Interest

KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 57,198 shares, a drop of 49.2% from the January 29th total of 112,620 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 38,692 shares, the short-interest ratio is presently 1.5 days. Based on an average daily volume of 38,692 shares, the short-interest ratio is presently 1.5 days. Approximately 0.8% of the company’s stock are short sold.

KraneShares California Carbon Allowance Strategy ETF Price Performance

KCCA traded down $0.03 during trading hours on Friday, hitting $15.09. 33,801 shares of the stock were exchanged, compared to its average volume of 43,641. The stock has a 50-day simple moving average of $15.98 and a 200-day simple moving average of $16.55. KraneShares California Carbon Allowance Strategy ETF has a 12 month low of $13.61 and a 12 month high of $18.16. The stock has a market cap of $104.12 million, a price-to-earnings ratio of 10.81 and a beta of 0.18.

KraneShares California Carbon Allowance Strategy ETF Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 22nd were issued a dividend of $0.4832 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $1.93 annualized dividend and a dividend yield of 12.8%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maltin Wealth Management Inc. increased its position in KraneShares California Carbon Allowance Strategy ETF by 40.7% in the second quarter. Maltin Wealth Management Inc. now owns 16,600 shares of the company’s stock worth $258,000 after buying an additional 4,800 shares during the period. Biltmore Family Office LLC grew its position in shares of KraneShares California Carbon Allowance Strategy ETF by 11.4% during the fourth quarter. Biltmore Family Office LLC now owns 18,043 shares of the company’s stock worth $303,000 after acquiring an additional 1,846 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of KraneShares California Carbon Allowance Strategy ETF in the 2nd quarter worth about $400,000. Brucke Financial Inc. bought a new stake in KraneShares California Carbon Allowance Strategy ETF in the 4th quarter valued at about $556,000. Finally, Susquehanna International Group LLP acquired a new position in KraneShares California Carbon Allowance Strategy ETF during the 3rd quarter valued at about $576,000.

About KraneShares California Carbon Allowance Strategy ETF

The KraneShares California Carbon Allowance ETF (KCCA) is an exchange-traded fund that is based on the IHS Markit Carbon CCA index. The fund tracks a liquidity-weighted CCA carbon credit futures index. KCCA was launched on Oct 5, 2021 and is managed by KraneShares.