KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Short Interest Up 811.2% in May

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) saw a large increase in short interest in May. As of May 15th, there was short interest totaling 138,762 shares, an increase of 811.2% from the April 30th total of 15,228 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 89,328 shares, the short-interest ratio is presently 1.6 days.

KraneShares Hang Seng TECH Index ETF Stock Up 0.5%

Shares of NYSEARCA KTEC traded up $0.07 during trading hours on Friday, reaching $13.60. 42,008 shares of the stock traded hands, compared to its average volume of 88,104. The company has a market capitalization of $58.48 million, a P/E ratio of 45.33 and a beta of 0.48. KraneShares Hang Seng TECH Index ETF has a 52-week low of $13.16 and a 52-week high of $19.69. The company’s 50-day simple moving average is $13.88 and its two-hundred day simple moving average is $15.17.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

A number of large investors have recently modified their holdings of KTEC. IFP Advisors Inc raised its holdings in shares of KraneShares Hang Seng TECH Index ETF by 153.4% during the 3rd quarter. IFP Advisors Inc now owns 5,575 shares of the company’s stock valued at $106,000 after buying an additional 3,375 shares in the last quarter. Osaic Holdings Inc. purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 2nd quarter valued at about $207,000. Jane Street Group LLC purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 4th quarter valued at about $228,000. Cetera Investment Advisers purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 4th quarter valued at about $290,000. Finally, Susquehanna International Group LLP purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 3rd quarter valued at about $350,000. 63.86% of the stock is owned by hedge funds and other institutional investors.

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.