KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC – Get Free Report) saw a significant drop in short interest in October. As of October 15th, there was short interest totaling 6,217 shares, a drop of 94.0% from the September 30th total of 103,041 shares. Based on an average daily volume of 40,217 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are sold short.
Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF
Hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC grew 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 purchasing an additional 28,997 shares during the period. Lavelle Capital LP acquired a new position in shares of KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at about $1,134,000. Finally, Cetera Investment Advisers lifted its holdings 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 buying an additional 4,115 shares during the period. 63.86% of the stock is owned by institutional investors and hedge funds.
KraneShares Hang Seng TECH Index ETF Stock Up 0.1%
Shares of NYSEARCA KTEC traded up $0.01 during trading hours on Monday, hitting $10.91. 184,453 shares of the stock were exchanged, compared to its average volume of 80,264. KraneShares Hang Seng TECH Index ETF has a 12 month low of $10.72 and a 12 month high of $18.44. The firm has a fifty day moving average price of $12.09 and a 200-day moving average price of $13.60. The company has a market cap of $43.09 million, a PE ratio of 36.37 and a beta of 0.47.
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.
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