KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Reaches New 1-Year Low – What’s Next?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $27.12 and last traded at $27.33, with a volume of 5536622 shares changing hands. The stock had previously closed at $28.12.

KraneShares CSI China Internet ETF Stock Down 2.6%

The stock’s fifty day moving average price is $28.89 and its 200 day moving average price is $33.11. The stock has a market cap of $6.05 billion, a PE ratio of 15.95 and a beta of 0.36.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in KraneShares CSI China Internet ETF by 32.1% during the first quarter. Bank of America Corp DE now owns 11,090,675 shares of the company’s stock valued at $315,308,000 after purchasing an additional 2,693,759 shares during the period. Bessemer Group Inc. lifted its position in KraneShares CSI China Internet ETF by 12.5% during the third quarter. Bessemer Group Inc. now owns 7,130,716 shares of the company’s stock valued at $299,561,000 after purchasing an additional 791,095 shares during the period. Temasek Holdings Private Ltd lifted its position in KraneShares CSI China Internet ETF by 98.5% during the fourth 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 period. Rafferty Asset Management LLC lifted its position in KraneShares CSI China Internet ETF by 6.1% during the fourth quarter. Rafferty Asset Management LLC now owns 4,302,191 shares of the company’s stock valued at $146,490,000 after purchasing an additional 247,264 shares during the period. Finally, Krane Funds Advisors LLC lifted its position in KraneShares CSI China Internet ETF by 19.6% during the fourth quarter. Krane Funds Advisors LLC now owns 3,856,700 shares of the company’s stock valued at $131,321,000 after purchasing an additional 631,799 shares during the period.

KraneShares CSI China Internet ETF Company Profile

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.