KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Shares Gap Down – Here’s What Happened

Shares of KraneShares CSI China Internet ETF (NYSEARCA:KWEB) gapped down before the market opened on Friday . The stock had previously closed at $27.63, but opened at $26.46. KraneShares CSI China Internet ETF shares last traded at $26.93, with a volume of 23,084,080 shares trading hands.

KraneShares CSI China Internet ETF Stock Down 2.8%

The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 15.95 and a beta of 0.36. The firm’s 50 day moving average is $28.96 and its 200 day moving average is $33.16.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

A number of large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise raised its holdings in shares of KraneShares CSI China Internet ETF by 2.9% during the third quarter. Banque Cantonale Vaudoise now owns 9,953 shares of the company’s stock valued at $418,000 after acquiring an additional 284 shares during the period. Magnus Financial Group LLC raised its holdings in shares of KraneShares CSI China Internet ETF by 2.4% during the fourth quarter. Magnus Financial Group LLC now owns 15,901 shares of the company’s stock valued at $541,000 after acquiring an additional 380 shares during the period. TAGStone Capital Inc. raised its holdings in shares of KraneShares CSI China Internet ETF by 6.1% during the fourth quarter. TAGStone Capital Inc. now owns 6,815 shares of the company’s stock valued at $232,000 after acquiring an additional 390 shares during the period. Highline Wealth Partners LLC raised its holdings in shares of KraneShares CSI China Internet ETF by 5.6% during the fourth quarter. Highline Wealth Partners LLC now owns 7,994 shares of the company’s stock valued at $272,000 after acquiring an additional 424 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of KraneShares CSI China Internet ETF by 6.1% during the fourth quarter. Larson Financial Group LLC now owns 8,490 shares of the company’s stock valued at $289,000 after acquiring an additional 487 shares during the period.

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.