KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Shares Shorted: Short Interest Up 1,152.1% in October

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) saw a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 77,844 shares, a growth of 1,152.1% from the October 15th total of 6,217 shares. Based on an average daily volume of 116,676 shares, the short-interest ratio is currently 0.7 days. Currently, 2.6% of the shares of the company are short sold.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in KTEC. Lavelle Capital LP purchased a new stake in KraneShares Hang Seng TECH Index ETF during the 1st quarter valued at approximately $1,134,000. Citadel Advisors LLC lifted its position in KraneShares Hang Seng TECH Index ETF by 286.0% during the 2nd quarter. Citadel Advisors LLC now owns 39,135 shares of the company’s stock worth $482,000 after acquiring an additional 28,997 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of KraneShares Hang Seng TECH Index ETF by 22.2% in 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 last quarter. Hedge funds and other institutional investors own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Stock Performance

NYSEARCA KTEC traded down $0.27 during trading on Thursday, reaching $11.01. The company’s stock had a trading volume of 76,872 shares, compared to its average volume of 92,382. The firm has a market cap of $33.03 million, a price-to-earnings ratio of 36.70 and a beta of 0.49. KraneShares Hang Seng TECH Index ETF has a twelve month low of $10.57 and a twelve month high of $17.70. The business’s fifty day moving average price is $11.66 and its 200-day moving average price is $13.28.

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.