KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) Sees Large Growth in Short Interest

KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 27,568 shares, an increase of 293.7% from the April 15th total of 7,003 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 66,988 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its position in KraneShares Electric Vehicles and Future Mobility Index ETF by 100.9% in the 1st quarter. Jane Street Group LLC now owns 61,567 shares of the company’s stock valued at $1,307,000 after purchasing an additional 30,927 shares during the period. Raymond James Financial Inc. bought a new stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF during the second quarter valued at about $53,000. Q3 Asset Management bought a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter worth approximately $1,075,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter worth approximately $114,000. Finally, JPL Wealth Management LLC bought a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter worth approximately $34,000.

KraneShares Electric Vehicles and Future Mobility Index ETF Trading Up 1.1%

KraneShares Electric Vehicles and Future Mobility Index ETF stock traded up $0.43 during trading hours on Wednesday, reaching $37.85. 128,256 shares of the stock were exchanged, compared to its average volume of 31,769. The company has a market cap of $102.20 million, a P/E ratio of 17.78 and a beta of 1.10. KraneShares Electric Vehicles and Future Mobility Index ETF has a twelve month low of $20.15 and a twelve month high of $38.12. The stock has a 50 day moving average of $33.72 and a two-hundred day moving average of $32.23.

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.