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

KraneShares 2x Long MELI Daily ETF (NASDAQ:KMLI) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 100,427 shares, a drop of 45.6% from the June 15th total of 184,618 shares. Based on an average daily volume of 78,937 shares, the days-to-cover ratio is currently 1.3 days. Approximately 8.4% of the company’s shares are short sold.

KraneShares 2x Long MELI Daily ETF Price Performance

Shares of NASDAQ:KMLI traded down $0.46 during midday trading on Friday, reaching $9.42. The company’s stock had a trading volume of 92,996 shares, compared to its average volume of 68,621. The business has a 50 day moving average price of $8.30 and a 200 day moving average price of $10.59. KraneShares 2x Long MELI Daily ETF has a 1 year low of $6.74 and a 1 year high of $26.67.

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.