KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Sets New 12-Month Low – Here’s Why

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s stock price reached a new 52-week low during trading on Wednesday. The stock traded as low as $22.85 and last traded at $22.8650, with a volume of 2,712,151 shares. The stock had previously closed at $23.13.

KraneShares CSI China Internet ETF Stock Down 0.9%

The business’s 50-day moving average is $24.76 and its two-hundred day moving average is $28.14. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 15.95 and a beta of 0.33.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

Several large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in KraneShares CSI China Internet ETF during the 3rd quarter valued at $417,000. Invera Wealth Advisors LLC acquired a new stake in KraneShares CSI China Internet ETF in the 3rd quarter valued at $201,000. Partners Wealth Management LLC purchased a new stake in shares of KraneShares CSI China Internet ETF during the third quarter valued at approximately $1,031,000. Bright Futures Wealth Management LLC. bought a new stake in KraneShares CSI China Internet ETF in the third quarter valued at about $1,268,000. Finally, Invested Advisors acquired a new position in shares of KraneShares CSI China Internet ETF during the third quarter valued at $261,000.

About KraneShares CSI China Internet ETF

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.