KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC – Get Free Report) saw a large decline in short interest in September. As of September 15th, there was short interest totaling 6,166 shares, a decline of 72.6% from the August 31st total of 22,505 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 28,478 shares, the days-to-cover ratio is presently 0.2 days.
Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF
A number of institutional investors have recently added to or reduced their stakes in KTEC. Cetera Investment Advisers lifted its stake in 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 purchasing an additional 4,115 shares during the last quarter. Citadel Advisors LLC raised its position in KraneShares Hang Seng TECH Index ETF by 286.0% in the second quarter. Citadel Advisors LLC now owns 39,135 shares of the company’s stock valued at $482,000 after purchasing an additional 28,997 shares during the last quarter. Finally, Lavelle Capital LP acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF during the first quarter valued at about $1,134,000. 63.86% of the stock is currently owned by institutional investors and hedge funds.
KraneShares Hang Seng TECH Index ETF Stock Down 0.4%
KraneShares Hang Seng TECH Index ETF stock opened at $11.97 on Friday. The stock has a market cap of $52.67 million, a PE ratio of 39.90 and a beta of 0.48. KraneShares Hang Seng TECH Index ETF has a 12-month low of $11.81 and a 12-month high of $19.69. The business’s 50-day moving average price is $12.89 and its two-hundred day moving average price is $13.33.
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.
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