KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC – Get Free Report) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 104,221 shares, a drop of 46.6% from the July 15th total of 195,034 shares. Based on an average trading volume of 62,766 shares, the short-interest ratio is currently 1.7 days. Approximately 2.4% of the shares of the company are sold short.
KraneShares Hang Seng TECH Index ETF Stock Performance
Shares of KraneShares Hang Seng TECH Index ETF stock traded down $0.08 on Friday, hitting $13.26. 33,332 shares of the company’s stock were exchanged, compared to its average volume of 82,120. The company has a 50-day simple moving average of $13.04 and a 200-day simple moving average of $13.86. The stock has a market capitalization of $57.68 million, a PE ratio of 44.20 and a beta of 0.49. KraneShares Hang Seng TECH Index ETF has a 1 year low of $11.81 and a 1 year high of $19.69.
Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF
A number of institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC grew its holdings in KraneShares Hang Seng TECH Index ETF by 268.8% during the first quarter. Jane Street Group LLC now owns 181,503 shares of the company’s stock valued at $2,946,000 after purchasing an additional 132,285 shares during the period. Lavelle Capital LP purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the first quarter worth about $1,134,000. NewEdge Advisors LLC purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the first quarter worth about $447,000. Cetera Investment Advisers raised its stake in KraneShares Hang Seng TECH Index ETF by 22.2% during the 1st quarter. Cetera Investment Advisers now owns 22,638 shares of the company’s stock valued at $311,000 after purchasing an additional 4,115 shares during the period. Finally, Susquehanna International Group LLP bought a new stake in KraneShares Hang Seng TECH Index ETF during the 3rd quarter valued at approximately $350,000. 63.86% of the stock is owned by institutional investors.
About KraneShares Hang Seng TECH Index ETF
The KraneShares Hang Seng TECH Index ETF (KTEC) is an exchange-traded fund that is based on the Hang Seng Tech index, a market-cap-weighted index of the 30 largest Chinese technology companies. KTEC was launched on Jun 9, 2021 and is managed by KraneShares.
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