Short Interest in KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Rises By 59.2%

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 40,768 shares, an increase of 59.2% from the February 26th total of 25,606 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 107,912 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

A number of hedge funds have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of 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 worth $106,000 after purchasing an additional 3,375 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in KraneShares Hang Seng TECH Index ETF during the 2nd quarter worth $207,000. Jane Street Group LLC acquired a new stake in KraneShares Hang Seng TECH Index ETF during the 4th quarter worth $228,000. Cetera Investment Advisers purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the fourth quarter worth $290,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of KraneShares Hang Seng TECH Index ETF by 48.6% during the third quarter. Farther Finance Advisors LLC now owns 17,944 shares of the company’s stock worth $341,000 after buying an additional 5,869 shares in the last quarter. Institutional investors and hedge funds own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Stock Performance

Shares of KTEC stock traded down $0.26 on Friday, reaching $13.37. 63,398 shares of the company were exchanged, compared to its average volume of 71,500. The company has a market cap of $50.81 million, a price-to-earnings ratio of 44.57 and a beta of 0.48. The business has a 50-day moving average price of $14.95 and a 200 day moving average price of $16.48. KraneShares Hang Seng TECH Index ETF has a 1 year low of $12.94 and a 1 year high of $19.69.

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.