KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) Shares Down 2.5% – Time to Sell?

KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS)’s stock price were down 2.5% on Tuesday . The stock traded as low as $21.75 and last traded at $21.83. Approximately 8,571 shares traded hands during trading, a decline of 67% from the average daily volume of 26,292 shares. The stock had previously closed at $22.39.

KraneShares Electric Vehicles and Future Mobility Index ETF Trading Down 2.5 %

The company has a market cap of $98.21 million, a P/E ratio of 11.95 and a beta of 1.28. The business has a 50 day moving average price of $22.16 and a 200-day moving average price of $20.71.

Institutional Trading of KraneShares Electric Vehicles and Future Mobility Index ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in KARS. Jane Street Group LLC raised its holdings in shares of KraneShares Electric Vehicles and Future Mobility Index ETF by 227.4% in the 1st quarter. Jane Street Group LLC now owns 208,154 shares of the company’s stock valued at $4,675,000 after purchasing an additional 144,577 shares during the period. Commonwealth Equity Services LLC increased its position in KraneShares Electric Vehicles and Future Mobility Index ETF by 39.1% during the second quarter. Commonwealth Equity Services LLC now owns 16,421 shares of the company’s stock worth $318,000 after buying an additional 4,614 shares during the last quarter. Finally, Westside Investment Management Inc. acquired a new position in KraneShares Electric Vehicles and Future Mobility Index ETF during the third quarter worth approximately $32,000.

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.