Short Interest in KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) Drops By 14.5%

KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 2,859 shares, a decrease of 14.5% from the February 26th total of 3,345 shares. Based on an average daily volume of 21,628 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.1% of the company’s shares are short sold.

KraneShares 2x Long BABA Daily ETF Price Performance

NASDAQ KBAB traded up $0.37 during mid-day trading on Tuesday, reaching $9.57. 11,556 shares of the stock were exchanged, compared to its average volume of 23,033. KraneShares 2x Long BABA Daily ETF has a one year low of $9.11 and a one year high of $41.12. The stock has a 50 day simple moving average of $14.25 and a 200-day simple moving average of $22.18. The stock has a market cap of $2.39 million, a P/E ratio of 14.81 and a beta of 9.86.

Institutional Inflows and Outflows

An institutional investor recently raised its position in KraneShares 2x Long BABA Daily ETF stock. Susquehanna International Group LLP raised its stake in KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) by 27.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,550 shares of the company’s stock after purchasing an additional 17,325 shares during the period. Susquehanna International Group LLP owned 32.62% of KraneShares 2x Long BABA Daily ETF worth $2,897,000 as of its most recent SEC filing.

About KraneShares 2x Long BABA Daily ETF

KraneShares Trust – KraneShares 2x Long BABA Daily ETF is an exchange traded fund launched and managed by Krane Funds Advisors, LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across diversified sectors. The fund uses derivatives such as options and swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. KraneShares Trust – KraneShares 2x Long BABA Daily ETF is domiciled in the United States.