KraneShares Artificial Intelligence and Technology ETF (NASDAQ:AGIX) Trading Down 2% – Time to Sell?

KraneShares Artificial Intelligence and Technology ETF (NASDAQ:AGIX) shares were down 2% during trading on Tuesday . The company traded as low as $42.81 and last traded at $44.53. Approximately 689,076 shares were traded during mid-day trading, an increase of 173% from the average daily volume of 252,854 shares. The stock had previously closed at $45.42.

KraneShares Artificial Intelligence and Technology ETF Trading Up 4.1%

The business has a 50 day moving average of $41.41 and a 200-day moving average of $37.51. The stock has a market cap of $389.41 million, a PE ratio of 36.18 and a beta of 1.93.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Westwind Capital purchased a new position in KraneShares Artificial Intelligence and Technology ETF during the 4th quarter worth approximately $1,588,000. Noble Wealth Management PBC purchased a new position in KraneShares Artificial Intelligence and Technology ETF during the 4th quarter worth approximately $37,000. Mainstay Capital Management LLC ADV purchased a new position in KraneShares Artificial Intelligence and Technology ETF during the 3rd quarter worth approximately $503,000. Jane Street Group LLC grew its stake in KraneShares Artificial Intelligence and Technology ETF by 43.1% during the 1st quarter. Jane Street Group LLC now owns 42,715 shares of the company’s stock worth $1,048,000 after buying an additional 12,867 shares during the last quarter. Finally, Royal Bank of Canada purchased a new position in KraneShares Artificial Intelligence and Technology ETF during the 4th quarter worth approximately $354,000.

KraneShares Artificial Intelligence and Technology ETF Company Profile

The KraneShares Artificial Intelligence & Technology ETF (AGIX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund uses an index as a guide to select stocks globally that are involved in developing and applying artificial intelligence technologies. The fund has the ability to invest in both listed and private AI companies AGIX was launched on Jul 18, 2024 and is issued by KraneShares.