KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA) Stock Price Down 0.8% – Here’s Why

Shares of KraneShares California Carbon Allowance Strategy ETF (NYSEARCA:KCCA) traded down 0.8% during trading on Tuesday . The stock traded as low as $16.07 and last traded at $16.30. 29,832 shares were traded during mid-day trading, a decline of 20% from the average session volume of 37,090 shares. The stock had previously closed at $16.43.

KraneShares California Carbon Allowance Strategy ETF Stock Up 0.5%

The company has a market capitalization of $116.30 million, a PE ratio of 10.81 and a beta of 0.18. The company’s 50 day moving average is $15.20 and its two-hundred day moving average is $15.70.

Hedge Funds Weigh In On KraneShares California Carbon Allowance Strategy ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fielder Capital Group LLC purchased a new stake in shares of KraneShares California Carbon Allowance Strategy ETF during the 3rd quarter worth approximately $8,572,000. NewEdge Wealth LLC purchased a new stake in KraneShares California Carbon Allowance Strategy ETF during the fourth quarter valued at $3,698,000. Susquehanna International Group LLP bought a new position in KraneShares California Carbon Allowance Strategy ETF during the third quarter valued at $576,000. Brucke Financial Inc. purchased a new position in shares of KraneShares California Carbon Allowance Strategy ETF in the 4th quarter worth $556,000. Finally, Picton Mahoney Asset Management grew its stake in shares of KraneShares California Carbon Allowance Strategy ETF by 94.9% in the 4th quarter. Picton Mahoney Asset Management now owns 53,200 shares of the company’s stock worth $896,000 after buying an additional 25,900 shares in the last quarter.

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.