KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Sets New 12-Month Low – Should You Sell?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) shares hit a new 52-week low on Monday . The company traded as low as $27.79 and last traded at $27.89, with a volume of 2635513 shares trading hands. The stock had previously closed at $27.91.

KraneShares CSI China Internet ETF Price Performance

The firm’s 50 day simple moving average is $32.22 and its 200-day simple moving average is $36.33. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 15.95 and a beta of 0.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in shares of KraneShares CSI China Internet ETF by 12.5% in the third quarter. Bessemer Group Inc. now owns 7,130,716 shares of the company’s stock valued at $299,561,000 after acquiring an additional 791,095 shares during the period. Temasek Holdings Private Ltd raised its position in KraneShares CSI China Internet ETF by 98.5% in the 4th quarter. Temasek Holdings Private Ltd now owns 6,499,382 shares of the company’s stock valued at $221,304,000 after purchasing an additional 3,225,790 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in KraneShares CSI China Internet ETF by 6.1% during the 4th quarter. Rafferty Asset Management LLC now owns 4,302,191 shares of the company’s stock worth $146,490,000 after purchasing an additional 247,264 shares during the period. Krane Funds Advisors LLC boosted its stake in KraneShares CSI China Internet ETF by 19.6% during the 4th quarter. Krane Funds Advisors LLC now owns 3,856,700 shares of the company’s stock worth $131,321,000 after purchasing an additional 631,799 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in KraneShares CSI China Internet ETF by 0.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,623,034 shares of the company’s stock worth $123,365,000 after purchasing an additional 12,467 shares during the last quarter.

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.