KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) Short Interest Down 63.1% in July

KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 30,289 shares, a decline of 63.1% from the June 30th total of 81,987 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 29,901 shares, the days-to-cover ratio is currently 1.0 days.

KraneShares China Internet and Covered Call Strategy ETF Price Performance

Shares of NYSEARCA:KLIP traded up $0.10 on Tuesday, reaching $24.54. The company’s stock had a trading volume of 48,416 shares, compared to its average volume of 42,071. KraneShares China Internet and Covered Call Strategy ETF has a 52-week low of $22.11 and a 52-week high of $33.56. The stock has a market capitalization of $102.58 million, a P/E ratio of 16.77 and a beta of 0.44. The stock’s 50-day moving average is $24.20 and its two-hundred day moving average is $26.67.

Hedge Funds Weigh In On KraneShares China Internet and Covered Call Strategy ETF

Institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new stake in KraneShares China Internet and Covered Call Strategy ETF during the 4th quarter worth approximately $33,000. Royal Bank of Canada increased its holdings in shares of KraneShares China Internet and Covered Call Strategy ETF by 1,404.5% in the fourth quarter. Royal Bank of Canada now owns 5,356 shares of the company’s stock valued at $161,000 after purchasing an additional 5,000 shares during the period. Ascentis Independent Advisors acquired a new position in shares of KraneShares China Internet and Covered Call Strategy ETF in the first quarter valued at approximately $138,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of KraneShares China Internet and Covered Call Strategy ETF during the fourth quarter worth approximately $326,000. Finally, BLVD Private Wealth LLC raised its stake in shares of KraneShares China Internet and Covered Call Strategy ETF by 5.8% during the fourth quarter. BLVD Private Wealth LLC now owns 11,031 shares of the company’s stock worth $331,000 after purchasing an additional 602 shares during the last quarter.

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.