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 decline in short interest in the month of August. As of August 14th, there was short interest totaling 22,307 shares, a decline of 47.0% from the July 30th total of 42,100 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 28,876 shares, the short-interest ratio is currently 0.8 days.

KraneShares Electric Vehicles and Future Mobility Index ETF Price Performance

Shares of NYSEARCA KARS traded down $0.17 during trading hours on Friday, hitting $30.93. 21,815 shares of the company’s stock were exchanged, compared to its average volume of 28,294. The company’s 50-day moving average price is $30.52 and its 200-day moving average price is $32.68. KraneShares Electric Vehicles and Future Mobility Index ETF has a 1-year low of $26.39 and a 1-year high of $38.12. The stock has a market capitalization of $80.42 million, a price-to-earnings ratio of 17.78 and a beta of 1.09.

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

A number of institutional investors and hedge funds have recently bought and sold shares of KARS. Jane Street Group LLC boosted its holdings in KraneShares Electric Vehicles and Future Mobility Index ETF by 100.9% in the 1st quarter. Jane Street Group LLC now owns 61,567 shares of the company’s stock valued at $1,307,000 after purchasing an additional 30,927 shares during the period. Raymond James Financial Inc. acquired a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF during the second quarter valued at about $53,000. JPL Wealth Management LLC bought a new stake in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter valued at about $34,000. Farther Finance Advisors LLC increased its stake in KraneShares Electric Vehicles and Future Mobility Index ETF by 2,197.8% during the fourth quarter. Farther Finance Advisors LLC now owns 2,091 shares of the company’s stock valued at $64,000 after acquiring an additional 2,000 shares during the period. Finally, OLD Mission Capital LLC raised its holdings in KraneShares Electric Vehicles and Future Mobility Index ETF by 32.4% in the 4th quarter. OLD Mission Capital LLC now owns 49,260 shares of the company’s stock valued at $1,504,000 after acquiring an additional 12,062 shares in the last quarter.

KraneShares Electric Vehicles and Future Mobility Index ETF Company Profile

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.