KLIP Stock Summary and Trading Ideas (Kraneshares China Internet & Covered Call Strategy ETF | ARCA:KLIP)

The KraneShares China Internet & Covered Call Strategy ETF (ticker: KLIP) seeks to provide current income by following a "covered call" or "buy-write" strategy. KLIP buys shares of the KraneShares CSI China Internet ETF (ticker: KWEB) and "writes" or "sells" corresponding call options on KWEB. Both KLIP and KWEB are benchmarked to the CSI Overseas China Internet Index, which tracks the performance of the investable universe of publicly traded China-based companies in the Internet sector.

Kraneshares China Internet & Covered Call Strategy ETF trades on the ARCA stock market under the symbol KLIP.

As of April 26, 2024, KLIP stock price climbed to $14.56 with 321,932 million shares trading.

KLIP has a beta of 0.47, meaning it tends to be less sensitive to market movements. KLIP has a correlation of 0.14 to the broad based SPY ETF.

KLIP has a market cap of $174.36 million. This is considered a Micro Cap stock.

KLIP has underperformed the market in the last year with a price return of +25.0% while the SPY ETF gained +27.1%. However, in the short term, KLIP had mixed performance relative to the market. It has outperformed in the last 3 months, returning +4.9% vs +4.7% return in SPY. But in the last 2 weeks, KLIP shares have been beat by the market, returning -1.8% compared to an SPY return of -1.7%.

KLIP support price is $14.46 and resistance is $14.65 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that KLIP stock will trade within this expected range on the day.