KraneShares 2x Long MELI Daily ETF (NASDAQ:KMLI) Sees Large Growth in Short Interest

KraneShares 2x Long MELI Daily ETF (NASDAQ:KMLI) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 86,409 shares, an increase of 1,057.7% from the August 15th total of 7,464 shares. Based on an average daily volume of 49,156 shares, the days-to-cover ratio is presently 1.8 days. Currently, 9.1% of the company’s stock are short sold.

KraneShares 2x Long MELI Daily ETF Stock Up 0.6%

Shares of KMLI stock traded up $0.06 during trading hours on Friday, hitting $10.04. 11,070 shares of the company were exchanged, compared to its average volume of 66,310. KraneShares 2x Long MELI Daily ETF has a 52 week low of $6.74 and a 52 week high of $26.67. The business has a 50 day moving average of $9.93 and a two-hundred day moving average of $9.33.

About KraneShares 2x Long MELI Daily ETF

KraneShares Trust – KraneShares 2x Long MELI Daily ETF is an exchange traded fund launched and managed by Krane Funds Advisors, LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across consumer discretionary sector and the consumer discretionary distribution and retail industry. The fund uses derivatives such as options and swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization.