Short Interest in KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Drops By 46.3%

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 28,643,077 shares, a decrease of 46.3% from the May 14th total of 53,289,501 shares. Based on an average daily trading volume, of 29,039,194 shares, the days-to-cover ratio is presently 1.0 days. Approximately 12.7% of the company’s shares are short sold.

KraneShares CSI China Internet ETF Stock Down 2.8%

NYSEARCA:KWEB traded down $0.75 during trading hours on Tuesday, hitting $25.87. 10,603,822 shares of the stock were exchanged, compared to its average volume of 26,380,939. The company’s 50 day moving average is $28.22 and its two-hundred day moving average is $31.77. The company has a market capitalization of $5.81 billion, a P/E ratio of 15.95 and a beta of 0.34. KraneShares CSI China Internet ETF has a twelve month low of $25.83 and a twelve month high of $43.37.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its stake in shares of KraneShares CSI China Internet ETF by 634.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 837 shares of the company’s stock valued at $28,000 after purchasing an additional 723 shares during the period. Manchester Capital Management LLC acquired a new position in shares of KraneShares CSI China Internet ETF in the 4th quarter valued at $32,000. JPL Wealth Management LLC bought a new stake in shares of KraneShares CSI China Internet ETF in the 3rd quarter valued at $34,000. Fortitude Family Office LLC bought a new stake in shares of KraneShares CSI China Internet ETF in the 4th quarter valued at $45,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of KraneShares CSI China Internet ETF in the 4th quarter valued at $45,000.

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.