KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA) Sees Significant Increase in Short Interest

KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 140,285 shares, a growth of 110.5% from the September 15th total of 66,633 shares. Based on an average daily trading volume, of 20,481 shares, the days-to-cover ratio is presently 6.8 days. Currently, 2.0% of the company’s stock are sold short.

KraneShares California Carbon Allowance Strategy ETF Stock Up 1.3%

NYSEARCA:KCCA traded up $0.21 during trading hours on Tuesday, reaching $16.99. 89,098 shares of the stock were exchanged, compared to its average volume of 33,349. The firm has a 50 day simple moving average of $16.97 and a 200-day simple moving average of $16.34. KraneShares California Carbon Allowance Strategy ETF has a 52 week low of $14.57 and a 52 week high of $18.05. The stock has a market capitalization of $119.78 million, a P/E ratio of 10.81 and a beta of 0.21.

Hedge Funds Weigh In On KraneShares California Carbon Allowance Strategy ETF

Large investors have recently added to or reduced their stakes in the company. Maltin Wealth Management Inc. increased its stake in KraneShares California Carbon Allowance Strategy ETF by 26.9% during the first quarter. Maltin Wealth Management Inc. now owns 21,684 shares of the company’s stock valued at $321,000 after purchasing an additional 4,600 shares during the last quarter. Sharp Wealth Advisory LLC lifted its position in shares of KraneShares California Carbon Allowance Strategy ETF by 13.8% in the 1st quarter. Sharp Wealth Advisory LLC now owns 18,315 shares of the company’s stock worth $271,000 after buying an additional 2,224 shares during the last quarter. Flatrock Wealth Partners LLC bought a new position in shares of KraneShares California Carbon Allowance Strategy ETF in the 1st quarter worth about $238,000. Finally, Sankala Group LLC bought a new position in shares of KraneShares California Carbon Allowance Strategy ETF in the 4th quarter worth about $118,000.

About KraneShares California Carbon Allowance Strategy ETF

The KraneShares California Carbon Allowance ETF (KCCA) is an exchange-traded fund that is based on the IHS Markit Carbon CCA index. The fund tracks a liquidity-weighted CCA carbon credit futures index. KCCA was launched on Oct 5, 2021 and is managed by KraneShares.