KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Sets New 1-Year Low – Should You Sell?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) reached a new 52-week low during trading on Thursday . The stock traded as low as $27.12 and last traded at $27.33, with a volume of 5536622 shares changing hands. The stock had previously closed at $28.12.

KraneShares CSI China Internet ETF Price Performance

The company’s fifty day simple moving average is $29.02 and its 200 day simple moving average is $33.24. The firm has a market capitalization of $6.20 billion, a PE ratio of 15.95 and a beta of 0.36.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of KraneShares CSI China Internet ETF by 32.1% during the first quarter. Bank of America Corp DE now owns 11,090,675 shares of the company’s stock valued at $315,308,000 after buying an additional 2,693,759 shares during the period. Bessemer Group Inc. increased its position in shares of KraneShares CSI China Internet ETF by 12.5% during the third quarter. Bessemer Group Inc. now owns 7,130,716 shares of the company’s stock valued at $299,561,000 after buying an additional 791,095 shares during the period. Temasek Holdings Private Ltd increased its position in shares of KraneShares CSI China Internet ETF by 98.5% during the fourth quarter. Temasek Holdings Private Ltd now owns 6,499,382 shares of the company’s stock valued at $221,304,000 after buying an additional 3,225,790 shares during the period. Rafferty Asset Management LLC increased its position in shares of KraneShares CSI China Internet ETF by 6.1% during the fourth quarter. Rafferty Asset Management LLC now owns 4,302,191 shares of the company’s stock valued at $146,490,000 after buying an additional 247,264 shares during the period. Finally, Krane Funds Advisors LLC increased its position in shares of KraneShares CSI China Internet ETF by 19.6% during the fourth quarter. Krane Funds Advisors LLC now owns 3,856,700 shares of the company’s stock valued at $131,321,000 after buying an additional 631,799 shares during the period.

KraneShares CSI China Internet ETF Company Profile

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.