KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC – Get Free Report) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 104,221 shares, a decrease of 46.6% from the July 15th total of 195,034 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 62,766 shares, the days-to-cover ratio is presently 1.7 days.
KraneShares Hang Seng TECH Index ETF Stock Performance
Shares of KTEC stock traded down $0.08 on Friday, reaching $13.26. The stock had a trading volume of 33,332 shares, compared to its average volume of 82,120. The stock has a market cap of $57.68 million, a P/E ratio of 44.20 and a beta of 0.49. KraneShares Hang Seng TECH Index ETF has a 1 year low of $11.81 and a 1 year high of $19.69. The company has a 50 day simple moving average of $13.04 and a 200 day simple moving average of $13.86.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in shares of KraneShares Hang Seng TECH Index ETF during the 1st quarter valued at about $447,000. Jane Street Group LLC lifted its stake in shares of KraneShares Hang Seng TECH Index ETF by 268.8% in the 1st quarter. Jane Street Group LLC now owns 181,503 shares of the company’s stock worth $2,946,000 after purchasing an additional 132,285 shares during the period. Osaic Holdings Inc. purchased a new position in shares of KraneShares Hang Seng TECH Index ETF in the second quarter worth approximately $207,000. Susquehanna International Group LLP purchased a new position in shares of KraneShares Hang Seng TECH Index ETF in the third quarter worth approximately $350,000. Finally, Cetera Investment Advisers bought a new stake in KraneShares Hang Seng TECH Index ETF during the fourth quarter valued at approximately $290,000. Institutional investors own 63.86% of the company’s stock.
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.
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