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

KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 6,856 shares, a decrease of 31.2% from the February 26th total of 9,963 shares. Based on an average trading volume of 18,756 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On KraneShares Electric Vehicles and Future Mobility Index ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPL Wealth Management LLC purchased a new stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF during the third quarter worth approximately $34,000. Farther Finance Advisors LLC lifted its stake in KraneShares Electric Vehicles and Future Mobility Index ETF by 2,197.8% in the fourth quarter. Farther Finance Advisors LLC now owns 2,091 shares of the company’s stock worth $64,000 after acquiring an additional 2,000 shares during the last quarter. Raymond James Financial Inc. acquired a new position in KraneShares Electric Vehicles and Future Mobility Index ETF during the 2nd quarter worth approximately $53,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the 3rd quarter valued at approximately $114,000. Finally, Jane Street Group LLC increased its position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 59.6% in the 4th quarter. Jane Street Group LLC now owns 22,667 shares of the company’s stock valued at $692,000 after purchasing an additional 8,467 shares during the last quarter.

KraneShares Electric Vehicles and Future Mobility Index ETF Trading Up 0.1%

NYSEARCA:KARS traded up $0.02 during midday trading on Monday, reaching $31.45. The company had a trading volume of 9,554 shares, compared to its average volume of 18,013. KraneShares Electric Vehicles and Future Mobility Index ETF has a 12-month low of $17.44 and a 12-month high of $33.73. The firm has a market capitalization of $75.48 million, a price-to-earnings ratio of 17.78 and a beta of 1.19. The stock’s fifty day simple moving average is $32.07 and its 200-day simple moving average is $31.17.

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.