KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) Sees Significant Drop in Short Interest

KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 70,167 shares, a decline of 12.9% from the January 29th total of 80,566 shares. Based on an average trading volume of 57,589 shares, the short-interest ratio is presently 1.2 days. Approximately 1.7% of the shares of the stock are short sold. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 57,589 shares, the short-interest ratio is presently 1.2 days.

KraneShares China Internet and Covered Call Strategy ETF Price Performance

Shares of KLIP opened at $26.42 on Friday. The company has a market capitalization of $110.96 million, a P/E ratio of 16.77 and a beta of 0.36. KraneShares China Internet and Covered Call Strategy ETF has a one year low of $26.21 and a one year high of $34.31. The business’s 50 day simple moving average is $30.22 and its 200-day simple moving average is $31.53.

KraneShares China Internet and Covered Call Strategy ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 26th were paid a $0.5837 dividend. The ex-dividend date of this dividend was Thursday, February 26th. This represents a c) dividend on an annualized basis and a yield of 26.5%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in KraneShares China Internet and Covered Call Strategy ETF during the 4th quarter worth about $33,000. Atlantic Union Bankshares Corp bought a new position in shares of KraneShares China Internet and Covered Call Strategy ETF in the third quarter worth about $64,000. Creative Financial Designs Inc. ADV bought a new position in shares of KraneShares China Internet and Covered Call Strategy ETF in the second quarter worth about $76,000. Royal Bank of Canada lifted its position in shares of KraneShares China Internet and Covered Call Strategy ETF by 1,404.5% during the fourth quarter. Royal Bank of Canada now owns 5,356 shares of the company’s stock worth $161,000 after purchasing an additional 5,000 shares in the last quarter. Finally, BLVD Private Wealth LLC acquired a new position in shares of KraneShares China Internet and Covered Call Strategy ETF during the second quarter worth approximately $296,000.

KraneShares China Internet and Covered Call Strategy ETF Company Profile

The KraneShares Trust – KraneShares China Internet and Covered Call Strategy ETF (KLIP) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund is a fund-of-fund that tracks an index of China-based internet stocks and sells one-month, at-the-money call options on the full amount of the portfolio. KLIP was launched on Jan 12, 2023 and is managed by KraneShares.