KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC – Get Free Report) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 15,228 shares, a decrease of 95.2% from the April 15th total of 315,175 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 191,669 shares, the days-to-cover ratio is presently 0.1 days.
KraneShares Hang Seng TECH Index ETF Price Performance
KTEC traded up $0.67 on Wednesday, reaching $14.87. 161,073 shares of the company traded hands, compared to its average volume of 89,577. The stock’s 50 day moving average price is $13.99 and its 200-day moving average price is $15.52. KraneShares Hang Seng TECH Index ETF has a 52-week low of $13.29 and a 52-week high of $19.69. The company has a market cap of $63.94 million, a price-to-earnings ratio of 49.57 and a beta of 0.48.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF during the 4th quarter valued at about $290,000. Jane Street Group LLC bought a new position in KraneShares Hang Seng TECH Index ETF during the fourth quarter valued at approximately $228,000. IFP Advisors Inc raised its position in KraneShares Hang Seng TECH Index ETF by 153.4% during the third quarter. IFP Advisors Inc now owns 5,575 shares of the company’s stock valued at $106,000 after acquiring an additional 3,375 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in KraneShares Hang Seng TECH Index ETF in the third quarter valued at approximately $350,000. Finally, Osaic Holdings Inc. bought a new stake in KraneShares Hang Seng TECH Index ETF in the second quarter worth approximately $207,000. 63.86% of the stock is owned by institutional investors and hedge funds.
KraneShares Hang Seng TECH Index ETF Company Profile
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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