KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Shares Shorted: Short Interest Up 1,152.1% in October

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) saw a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 77,844 shares, an increase of 1,152.1% from the October 15th total of 6,217 shares. Currently, 2.6% of the company’s shares are short sold. Based on an average daily volume of 116,676 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Lavelle Capital LP acquired a new position in KraneShares Hang Seng TECH Index ETF during the 1st quarter worth about $1,134,000. Citadel Advisors LLC grew its position in shares of KraneShares Hang Seng TECH Index ETF by 286.0% in the 2nd quarter. Citadel Advisors LLC now owns 39,135 shares of the company’s stock valued at $482,000 after buying an additional 28,997 shares during the last quarter. Finally, Cetera Investment Advisers grew its position 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 last quarter. 63.86% of the stock is owned by institutional investors.

KraneShares Hang Seng TECH Index ETF Price Performance

Shares of KraneShares Hang Seng TECH Index ETF stock traded down $0.11 during trading on Tuesday, hitting $11.44. The company’s stock had a trading volume of 70,446 shares, compared to its average volume of 92,770. KraneShares Hang Seng TECH Index ETF has a 52 week low of $10.57 and a 52 week high of $17.73. The stock has a market cap of $34.32 million, a price-to-earnings ratio of 38.13 and a beta of 0.49. The stock has a 50-day moving average price of $11.69 and a two-hundred day moving average price of $13.31.

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.