KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Sees Large Decrease in Short Interest

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 6,166 shares, a decrease of 72.6% from the August 31st total of 22,505 shares. Based on an average daily trading volume, of 28,478 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

KraneShares Hang Seng TECH Index ETF Stock Down 0.1%

KTEC stock traded down $0.01 during midday trading on Monday, reaching $11.96. The company’s stock had a trading volume of 5,846 shares, compared to its average volume of 80,495. KraneShares Hang Seng TECH Index ETF has a 52 week low of $11.81 and a 52 week high of $19.69. The stock has a market cap of $49.04 million, a PE ratio of 39.87 and a beta of 0.48. The business’s 50-day simple moving average is $12.89 and its 200-day simple moving average is $13.32.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers grew its stake in shares of KraneShares Hang Seng TECH Index ETF by 22.2% during the first quarter. Cetera Investment Advisers now owns 22,638 shares of the company’s stock worth $311,000 after purchasing an additional 4,115 shares during the period. Citadel Advisors LLC lifted its stake 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 buying an additional 28,997 shares during the period. Finally, Lavelle Capital LP acquired a new position in KraneShares Hang Seng TECH Index ETF in the first quarter valued at about $1,134,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Company Profile

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.