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

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 195,034 shares, a drop of 47.2% from the June 30th total of 369,206 shares. Approximately 4.5% of the shares of the stock are short sold. Based on an average trading volume of 106,102 shares, the days-to-cover ratio is presently 1.8 days.

KraneShares Hang Seng TECH Index ETF Trading Down 0.4%

Shares of NYSEARCA KTEC traded down $0.06 during mid-day trading on Thursday, reaching $13.58. The company had a trading volume of 51,346 shares, compared to its average volume of 84,686. The company has a 50-day moving average price of $13.06 and a two-hundred day moving average price of $14.11. The stock has a market cap of $59.07 million, a PE ratio of 45.27 and a beta of 0.48. KraneShares Hang Seng TECH Index ETF has a 1-year low of $11.81 and a 1-year high of $19.69.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

Institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP purchased a new stake in KraneShares Hang Seng TECH Index ETF during the third quarter valued at about $350,000. Osaic Holdings Inc. acquired a new position in shares of KraneShares Hang Seng TECH Index ETF in the second quarter worth about $207,000. Jane Street Group LLC purchased a new position in shares of KraneShares Hang Seng TECH Index ETF in the fourth quarter worth approximately $228,000. Cetera Investment Advisers purchased a new position in shares of KraneShares Hang Seng TECH Index ETF in the fourth quarter worth approximately $290,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF during the first quarter valued at approximately $447,000. Hedge funds and other institutional investors 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.