KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Reaches New 1-Year Low – Here’s Why

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $27.79 and last traded at $27.89, with a volume of 2635513 shares traded. The stock had previously closed at $27.91.

KraneShares CSI China Internet ETF Price Performance

The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 15.95 and a beta of 0.25. The business’s 50 day moving average is $32.22 and its 200 day moving average is $36.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KWEB. NewEdge Advisors LLC boosted its holdings in KraneShares CSI China Internet ETF by 11.3% in the first quarter. NewEdge Advisors LLC now owns 23,424 shares of the company’s stock valued at $818,000 after purchasing an additional 2,383 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of KraneShares CSI China Internet ETF during the 1st quarter worth approximately $1,518,000. Creative Planning boosted its holdings in shares of KraneShares CSI China Internet ETF by 38.9% in the 2nd quarter. Creative Planning now owns 9,204 shares of the company’s stock valued at $316,000 after buying an additional 2,579 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of KraneShares CSI China Internet ETF by 7.1% in the 2nd quarter. Scotia Capital Inc. now owns 10,589 shares of the company’s stock valued at $364,000 after buying an additional 700 shares in the last quarter. Finally, VestGen Advisors LLC grew its position in shares of KraneShares CSI China Internet ETF by 241.9% in the 2nd quarter. VestGen Advisors LLC now owns 65,816 shares of the company’s stock valued at $2,259,000 after buying an additional 46,565 shares during the last quarter.

About KraneShares CSI China Internet ETF

The KraneShares CSI China Internet ETF (KWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund tracks a market cap-weighted index composed of overseas-listed Chinese Internet companies. KWEB was launched on Jul 31, 2013 and is managed by KraneShares.