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

KraneShares China Internet and Covered Call Strategy ETF (NYSEARCA:KLIP) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 30,289 shares, a drop 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 presently 1.0 days.

Institutional Inflows and Outflows

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

KraneShares China Internet and Covered Call Strategy ETF Price Performance

NYSEARCA:KLIP opened at $24.16 on Monday. The company has a market capitalization of $100.99 million, a PE ratio of 16.77 and a beta of 0.44. The stock’s 50 day moving average price is $24.26 and its 200 day moving average price is $26.76. KraneShares China Internet and Covered Call Strategy ETF has a 52-week low of $22.11 and a 52-week high of $33.56.

About KraneShares China Internet and Covered Call Strategy ETF

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.