KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) Sees Significant Decline in Short Interest
by Danessa Lincoln · The Markets DailyKraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS – Get Free Report) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 6,856 shares, a drop of 31.2% from the February 26th total of 9,963 shares. Based on an average trading volume of 18,756 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the shares of the company are short sold.
KraneShares Electric Vehicles and Future Mobility Index ETF Price Performance
Shares of KARS stock traded up $0.02 during midday trading on Monday, hitting $31.45. The company had a trading volume of 9,554 shares, compared to its average volume of 18,013. The stock has a market cap of $75.48 million, a price-to-earnings ratio of 17.78 and a beta of 1.19. The company’s 50 day simple moving average is $32.07 and its 200 day simple moving average is $31.17. KraneShares Electric Vehicles and Future Mobility Index ETF has a 52-week low of $17.44 and a 52-week high of $33.73.
Hedge Funds Weigh In On KraneShares Electric Vehicles and Future Mobility Index ETF
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF in the 3rd quarter valued at about $34,000. Farther Finance Advisors LLC grew its position 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 worth $64,000 after buying an additional 2,000 shares during the period. Raymond James Financial Inc. purchased a new position in KraneShares Electric Vehicles and Future Mobility Index ETF in the second quarter valued at about $53,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in KraneShares Electric Vehicles and Future Mobility Index ETF in the third quarter valued at about $114,000. Finally, Jane Street Group LLC lifted its position in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 59.6% during the 4th 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.
About KraneShares Electric Vehicles and Future Mobility Index ETF
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.