KraneShares Hedgeye Hedged Equity Index ETF (NYSEARCA:KSPY) Sees Large Drop in Short Interest

KraneShares Hedgeye Hedged Equity Index ETF (NYSEARCA:KSPY) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 8,204 shares, a drop of 68.7% from the August 15th total of 26,187 shares. Based on an average daily trading volume, of 29,801 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On KraneShares Hedgeye Hedged Equity Index ETF

Institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers increased its position in KraneShares Hedgeye Hedged Equity Index ETF by 33.0% in the 1st quarter. Cetera Investment Advisers now owns 217,557 shares of the company’s stock worth $5,965,000 after buying an additional 53,933 shares during the period. Ball & Co Wealth Management Inc. bought a new stake in shares of KraneShares Hedgeye Hedged Equity Index ETF in the first quarter valued at approximately $10,252,000. Ascentis Independent Advisors bought a new stake in shares of KraneShares Hedgeye Hedged Equity Index ETF in the first quarter valued at approximately $468,000. Private Advisor Group LLC bought a new stake in shares of KraneShares Hedgeye Hedged Equity Index ETF in the first quarter valued at approximately $11,218,000. Finally, Truist Financial Corp acquired a new stake in shares of KraneShares Hedgeye Hedged Equity Index ETF in the fourth quarter worth $423,000.

KraneShares Hedgeye Hedged Equity Index ETF Trading Down 0.3%

KSPY traded down $0.09 during trading on Monday, hitting $29.93. The stock had a trading volume of 37,643 shares, compared to its average volume of 44,799. The firm has a market cap of $119.72 million, a PE ratio of 24.69 and a beta of 0.43. KraneShares Hedgeye Hedged Equity Index ETF has a 12 month low of $26.82 and a 12 month high of $30.22. The company has a 50 day simple moving average of $29.74 and a 200-day simple moving average of $28.84.

About KraneShares Hedgeye Hedged Equity Index ETF

The KraneShares Hedgeye Hedged Equity Index ETF (KSPY) is an exchange-traded fund that is based on the Hedgeye Hedged Equity index. The fund tracks an index the provides exposure to the S&P 500, with the objective of reducing volatility and dynamically hedging downside risk. The underlying portfolio holds ETFs with exposure to the S&P 500 Index, a fund-of-funds, and weekly Index options KSPY was launched on Jul 16, 2024 and is issued by KraneShares.