KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Stock Short Interest Rises 1,152.1%

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) was the target of a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 77,844 shares, a growth of 1,152.1% from the October 15th total of 6,217 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average trading volume of 116,676 shares, the short-interest ratio is presently 0.7 days.

KraneShares Hang Seng TECH Index ETF Trading Down 1.0%

KTEC traded down $0.11 on Tuesday, reaching $11.44. The stock had a trading volume of 70,446 shares, compared to its average volume of 92,770. The company has a market capitalization of $34.32 million, a price-to-earnings ratio of 38.13 and a beta of 0.49. KraneShares Hang Seng TECH Index ETF has a fifty-two week low of $10.57 and a fifty-two week high of $17.73. The firm has a 50-day moving average of $11.69 and a 200-day moving average of $13.31.

Institutional Trading of KraneShares Hang Seng TECH Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lavelle Capital LP bought a new position in KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at approximately $1,134,000. Citadel Advisors LLC boosted its position in KraneShares Hang Seng TECH Index ETF by 286.0% during the 2nd quarter. Citadel Advisors LLC now owns 39,135 shares of the company’s stock worth $482,000 after buying an additional 28,997 shares during the period. Finally, Cetera Investment Advisers grew its holdings 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. 63.86% of the stock is currently owned by institutional investors.

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.