KraneShares 2x Long MELI Daily ETF (NASDAQ:KMLI) Sees Significant Growth in Short Interest

KraneShares 2x Long MELI Daily ETF (NASDAQ:KMLI) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 194,202 shares, an increase of 184.7% from the April 30th total of 68,206 shares. Approximately 32.4% of the shares of the stock are sold short. Based on an average daily volume of 197,720 shares, the days-to-cover ratio is presently 1.0 days.

KraneShares 2x Long MELI Daily ETF Stock Performance

Shares of KraneShares 2x Long MELI Daily ETF stock opened at $8.54 on Monday. KraneShares 2x Long MELI Daily ETF has a twelve month low of $6.74 and a twelve month high of $29.70. The business has a 50-day moving average price of $9.14 and a 200-day moving average price of $12.31.

About KraneShares 2x Long MELI Daily ETF

KraneShares Trust – KraneShares 2x Long MELI 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 consumer discretionary sector and the consumer discretionary distribution and retail industry. 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.