KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Sees Significant Increase in Short Interest

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 286,250 shares, an increase of 549.9% from the December 31st total of 44,048 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average trading volume of 77,955 shares, the days-to-cover ratio is currently 3.7 days. Based on an average trading volume of 77,955 shares, the days-to-cover ratio is currently 3.7 days. Approximately 7.3% of the shares of the company are short sold.

Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc boosted its stake in KraneShares Hang Seng TECH Index ETF by 153.4% in the third quarter. IFP Advisors Inc now owns 5,575 shares of the company’s stock valued at $106,000 after acquiring an additional 3,375 shares during the period. Osaic Holdings Inc. acquired a new position in KraneShares Hang Seng TECH Index ETF during the 2nd quarter valued at approximately $207,000. Farther Finance Advisors LLC grew its stake in KraneShares Hang Seng TECH Index ETF by 48.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 17,944 shares of the company’s stock worth $341,000 after buying an additional 5,869 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in KraneShares Hang Seng TECH Index ETF in the third quarter worth $350,000. Finally, NewEdge Advisors LLC bought a new stake in KraneShares Hang Seng TECH Index ETF in the first quarter valued at $447,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Price Performance

KTEC traded up $0.13 during trading hours on Wednesday, hitting $16.52. 62,943 shares of the stock were exchanged, compared to its average volume of 69,513. The stock has a market cap of $64.43 million, a price-to-earnings ratio of 55.07 and a beta of 0.48. The stock has a 50-day simple moving average of $16.36 and a 200-day simple moving average of $17.12. KraneShares Hang Seng TECH Index ETF has a 12 month low of $12.94 and a 12 month high of $19.69.

KraneShares Hang Seng TECH Index ETF Announces Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 22nd were issued a $0.5254 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a dividend yield of 329.0%. KraneShares Hang Seng TECH Index ETF’s payout ratio is 173.33%.

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.