Short Interest in KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) Drops By 76.6%

KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 609 shares, a decline of 76.6% from the July 15th total of 2,600 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 11,001 shares, the short-interest ratio is presently 0.1 days.

KraneShares 2x Long BABA Daily ETF Stock Down 5.3%

NASDAQ:KBAB traded down $0.47 during trading hours on Thursday, hitting $8.43. 6,001 shares of the stock traded hands, compared to its average volume of 21,028. The company has a market cap of $3.62 million, a price-to-earnings ratio of 14.81 and a beta of 2.65. The stock has a 50 day moving average price of $7.47 and a 200 day moving average price of $10.57. KraneShares 2x Long BABA Daily ETF has a 1 year low of $4.95 and a 1 year high of $41.12.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in KraneShares 2x Long BABA Daily ETF stock. Jane Street Group LLC acquired a new stake in KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,304 shares of the company’s stock, valued at approximately $147,000. Jane Street Group LLC owned 4.12% of KraneShares 2x Long BABA Daily ETF as of its most recent filing with the Securities and Exchange Commission.

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.