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

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

Hedge funds have recently made changes to their positions in the business. OLD Mission Capital LLC lifted its holdings in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 32.4% during the 4th quarter. OLD Mission Capital LLC now owns 49,260 shares of the company’s stock worth $1,504,000 after acquiring an additional 12,062 shares during the period. Jane Street Group LLC increased its stake in KraneShares Electric Vehicles and Future Mobility Index ETF by 59.6% in the fourth quarter. Jane Street Group LLC now owns 22,667 shares of the company’s stock valued at $692,000 after acquiring an additional 8,467 shares during the period. Farther Finance Advisors LLC raised its position in KraneShares Electric Vehicles and Future Mobility Index ETF by 2,197.8% in the fourth quarter. Farther Finance Advisors LLC now owns 2,091 shares of the company’s stock worth $64,000 after purchasing an additional 2,000 shares in the last quarter. JPL Wealth Management LLC acquired a new position in KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter worth about $34,000. Finally, Raymond James Financial Inc. bought a new position in KraneShares Electric Vehicles and Future Mobility Index ETF during the second quarter worth about $53,000.

KraneShares Electric Vehicles and Future Mobility Index ETF Price Performance

Shares of KARS traded down $0.17 on Friday, reaching $30.93. 21,815 shares of the stock traded hands, compared to its average volume of 28,294. The stock’s 50-day moving average price is $30.52 and its 200-day moving average price is $32.68. The firm has a market cap of $80.42 million, a price-to-earnings ratio of 17.78 and a beta of 1.09. KraneShares Electric Vehicles and Future Mobility Index ETF has a 12 month low of $26.39 and a 12 month high of $38.12.

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.