KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Short Interest Up 1,491.4% in February

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 25,606 shares, an increase of 1,491.4% from the February 12th total of 1,609 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 57,121 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 57,121 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.7% of the shares of the company are sold short.

KraneShares Hang Seng TECH Index ETF Stock Up 1.5%

KTEC opened at $14.46 on Wednesday. The firm has a 50 day moving average price of $15.58 and a 200-day moving average price of $16.77. KraneShares Hang Seng TECH Index ETF has a twelve month low of $12.94 and a twelve month high of $19.69. The stock has a market capitalization of $54.95 million, a price-to-earnings ratio of 48.20 and a beta of 0.48.

KraneShares Hang Seng TECH Index ETF Dividend Announcement

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

Institutional Trading of KraneShares Hang Seng TECH Index ETF

A number of hedge funds have recently bought and sold shares of the company. IFP Advisors Inc boosted its holdings in shares of 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 worth $106,000 after buying an additional 3,375 shares during the last quarter. Farther Finance Advisors LLC raised its position in KraneShares Hang Seng TECH Index ETF by 48.6% in the third quarter. Farther Finance Advisors LLC now owns 17,944 shares of the company’s stock worth $341,000 after acquiring an additional 5,869 shares during the period. Osaic Holdings Inc. purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 2nd quarter worth $207,000. Jane Street Group LLC purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 4th quarter worth $228,000. Finally, Susquehanna International Group LLP bought a new stake in shares of KraneShares Hang Seng TECH Index ETF during the 3rd quarter valued at $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.