KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA) Stock Price Up 1.3% – Should You Buy?

KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA)’s stock price rose 1.3% during trading on Wednesday . The company traded as high as $17.51 and last traded at $17.39. Approximately 42,956 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 57,063 shares. The stock had previously closed at $17.16.

KraneShares California Carbon Allowance Strategy ETF Price Performance

The stock has a market cap of $111.82 million, a price-to-earnings ratio of 11.73 and a beta of 0.07. The business has a fifty day moving average of $17.75 and a 200 day moving average of $19.91.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KCCA. Quantinno Capital Management LP bought a new position in shares of KraneShares California Carbon Allowance Strategy ETF in the 4th quarter valued at approximately $232,000. Biltmore Family Office LLC acquired a new position in KraneShares California Carbon Allowance Strategy ETF during the 4th quarter worth $282,000. Hollencrest Capital Management bought a new stake in KraneShares California Carbon Allowance Strategy ETF during the fourth quarter valued at about $490,000. Jane Street Group LLC acquired a new stake in shares of KraneShares California Carbon Allowance Strategy ETF in the fourth quarter valued at about $908,000. Finally, Bienville Capital Management LLC increased its stake in shares of KraneShares California Carbon Allowance Strategy ETF by 308.5% in the fourth quarter. Bienville Capital Management LLC now owns 131,127 shares of the company’s stock worth $2,573,000 after purchasing an additional 99,027 shares during the period.

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.