KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC – Get Free Report) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 6,166 shares, a drop of 72.6% from the August 31st total of 22,505 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 28,478 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF
A number of institutional investors have recently modified their holdings of KTEC. Cetera Investment Advisers lifted its position in shares of 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 valued at $311,000 after acquiring an additional 4,115 shares during the period. Citadel Advisors LLC increased its position in shares of 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 worth $482,000 after purchasing an additional 28,997 shares during the period. Finally, Lavelle Capital LP bought a new position in shares of KraneShares Hang Seng TECH Index ETF in the first quarter worth $1,134,000. Institutional investors own 63.86% of the company’s stock.
KraneShares Hang Seng TECH Index ETF Stock Performance
NYSEARCA:KTEC opened at $11.97 on Friday. The company has a market cap of $52.67 million, a P/E ratio of 39.90 and a beta of 0.48. KraneShares Hang Seng TECH Index ETF has a 52-week low of $11.81 and a 52-week high of $19.69. The stock’s 50-day simple moving average is $12.89 and its 200 day simple moving average is $13.33.
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.
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