KraneShares Mount Lucas Managed Futures Index Strategy ETF (NYSEARCA:KMLM) Sets New 52-Week High – Still a Buy?

KraneShares Mount Lucas Managed Futures Index Strategy ETF (NYSEARCA:KMLM)’s share price hit a new 52-week high on Thursday . The company traded as high as $31.24 and last traded at $31.2680, with a volume of 156658 shares trading hands. The stock had previously closed at $31.07.

KraneShares Mount Lucas Managed Futures Index Strategy ETF Stock Up 0.0%

The business’s 50 day simple moving average is $29.64 and its two-hundred day simple moving average is $28.83. The stock has a market cap of $546.92 million, a P/E ratio of 9.85 and a beta of -0.36.

Institutional Investors Weigh In On KraneShares Mount Lucas Managed Futures Index Strategy ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in KraneShares Mount Lucas Managed Futures Index Strategy ETF by 64.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 270,164 shares of the company’s stock worth $7,435,000 after purchasing an additional 106,093 shares in the last quarter. Manning & Napier Advisors LLC grew its holdings in shares of KraneShares Mount Lucas Managed Futures Index Strategy ETF by 107.1% during the first quarter. Manning & Napier Advisors LLC now owns 159,971 shares of the company’s stock worth $4,524,000 after purchasing an additional 82,745 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of KraneShares Mount Lucas Managed Futures Index Strategy ETF in the first quarter valued at approximately $976,000. Ferguson Shapiro LLC acquired a new position in shares of KraneShares Mount Lucas Managed Futures Index Strategy ETF in the first quarter valued at approximately $859,000. Finally, Ameritas Advisory Services LLC bought a new position in KraneShares Mount Lucas Managed Futures Index Strategy ETF in the 2nd quarter valued at approximately $745,000.

About KraneShares Mount Lucas Managed Futures Index Strategy ETF

The KFA Mount Lucas Index Strategy ETF (KMLM) is an exchange-traded fund that is based on the KFA MLM index. The fund aims to track an index of long and short managed futures, based on a trend following methodology. The fund allocates to commodity, currency and global fixed income futures based on relative historical volatility. KMLM was launched on Dec 2, 2020 and is managed by KraneShares.