KraneShares CSI China Internet ETF Target of Unusually Large Options Trading (NYSEARCA:KWEB)

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) saw some unusual options trading activity on Friday. Investors purchased 318,065 call options on the stock. This is an increase of approximately 82% compared to the typical volume of 174,950 call options.

KraneShares CSI China Internet ETF Stock Performance

Shares of KWEB traded up $0.35 during midday trading on Friday, hitting $30.45. 45,444,114 shares of the stock traded hands, compared to its average volume of 26,058,648. KraneShares CSI China Internet ETF has a 1-year low of $27.62 and a 1-year high of $43.37. The firm has a market capitalization of $6.60 billion, a PE ratio of 15.95 and a beta of 0.37. The business’s 50 day moving average price is $30.37 and its two-hundred day moving average price is $35.16.

Hedge Funds Weigh In On KraneShares CSI China Internet ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in shares of KraneShares CSI China Internet ETF by 11.3% during the first quarter. NewEdge Advisors LLC now owns 23,424 shares of the company’s stock valued at $818,000 after purchasing an additional 2,383 shares in the last quarter. Empowered Funds LLC bought a new stake in KraneShares CSI China Internet ETF in the first quarter worth about $1,518,000. Creative Planning raised its position in KraneShares CSI China Internet ETF by 38.9% in the second quarter. Creative Planning now owns 9,204 shares of the company’s stock worth $316,000 after acquiring an additional 2,579 shares in the last quarter. Baird Financial Group Inc. raised its position in KraneShares CSI China Internet ETF by 2.9% in the second quarter. Baird Financial Group Inc. now owns 24,580 shares of the company’s stock worth $844,000 after acquiring an additional 683 shares in the last quarter. Finally, Main Street Financial Solutions LLC bought a new stake in KraneShares CSI China Internet ETF in the second quarter worth about $275,000.

About KraneShares CSI China Internet ETF

The KraneShares CSI China Internet ETF (KWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund tracks a market cap-weighted index composed of overseas-listed Chinese Internet companies. KWEB was launched on Jul 31, 2013 and is managed by KraneShares.