KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Trading 0.1% Higher – Should You Buy?

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC)’s share price traded up 0.1% during trading on Thursday . The stock traded as high as $12.88 and last traded at $12.78. Approximately 48,340 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 86,723 shares. The stock had previously closed at $12.77.

KraneShares Hang Seng TECH Index ETF Stock Performance

The company’s fifty day moving average is $13.78 and its two-hundred day moving average is $14.80. The stock has a market cap of $54.95 million, a price-to-earnings ratio of 42.60 and a beta of 0.47.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

Several hedge funds and other institutional investors have recently made changes to their positions in KTEC. Jane Street Group LLC boosted its position in shares of KraneShares Hang Seng TECH Index ETF by 268.8% during the 1st quarter. Jane Street Group LLC now owns 181,503 shares of the company’s stock worth $2,946,000 after acquiring an additional 132,285 shares in the last quarter. Lavelle Capital LP acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at about $1,134,000. NewEdge Advisors LLC acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at about $447,000. Cetera Investment Advisers purchased a new position in KraneShares Hang Seng TECH Index ETF during the 4th quarter worth approximately $290,000. Finally, Susquehanna International Group LLP purchased a new position in KraneShares Hang Seng TECH Index ETF during the 3rd quarter worth approximately $350,000. Hedge funds and other institutional investors own 63.86% of the company’s stock.

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.