KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Sees Large Drop 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 31st, there was short interest totaling 104,221 shares, a drop of 46.6% from the July 15th total of 195,034 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily volume of 62,766 shares, the days-to-cover ratio is currently 1.7 days.

KraneShares Hang Seng TECH Index ETF Trading Down 1.6%

NYSEARCA KTEC traded down $0.21 during trading on Tuesday, hitting $13.09. 30,490 shares of the company traded hands, compared to its average volume of 81,373. KraneShares Hang Seng TECH Index ETF has a 12 month low of $11.81 and a 12 month high of $19.69. The business has a fifty day simple moving average of $13.04 and a 200 day simple moving average of $13.84. The company has a market capitalization of $56.94 million, a P/E ratio of 43.63 and a beta of 0.49.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

A number of institutional investors have recently modified their holdings of the company. Lavelle Capital LP bought a new stake in shares of KraneShares Hang Seng TECH Index ETF during the 1st quarter worth $1,134,000. Cetera Investment Advisers lifted its position in KraneShares Hang Seng TECH Index ETF by 22.2% during the 1st quarter. Cetera Investment Advisers now owns 22,638 shares of the company’s stock worth $311,000 after acquiring an additional 4,115 shares during the last quarter. Jane Street Group LLC bought a new stake in KraneShares Hang Seng TECH Index ETF during the fourth quarter valued at about $228,000. Susquehanna International Group LLP acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF in the third quarter valued at about $350,000. Finally, Osaic Holdings Inc. bought a new position in shares of KraneShares Hang Seng TECH Index ETF in the second quarter worth about $207,000. 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.