KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Sets New 12-Month Low – Here’s What Happened

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) reached a new 52-week low during trading on Wednesday. The company traded as low as $22.85 and last traded at $22.8650, with a volume of 2,712,151 shares trading hands. The stock had previously closed at $23.13.

KraneShares CSI China Internet ETF Stock Performance

The stock has a 50 day moving average of $24.92 and a two-hundred day moving average of $28.27. The stock has a market cap of $4.26 billion, a PE ratio of 15.95 and a beta of 0.33.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in shares of KraneShares CSI China Internet ETF by 32.1% during the 1st quarter. Bank of America Corp DE now owns 11,090,675 shares of the company’s stock worth $315,308,000 after buying an additional 2,693,759 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its holdings in KraneShares CSI China Internet ETF by 54.4% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,186,516 shares of the company’s stock valued at $62,163,000 after acquiring an additional 770,000 shares during the period. Compass Rose Asset Management LP lifted its position in shares of KraneShares CSI China Internet ETF by 123.6% during the 1st quarter. Compass Rose Asset Management LP now owns 1,230,000 shares of the company’s stock worth $34,969,000 after purchasing an additional 680,000 shares during the last quarter. NWI Management LP acquired a new stake in KraneShares CSI China Internet ETF in the 1st quarter valued at approximately $25,587,000. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new position in shares of KraneShares CSI China Internet ETF during the second quarter worth approximately $21,371,000.

About KraneShares CSI China Internet ETF

The KraneShares CSI China Internet ETF (KWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund tracks a market cap-weighted index composed of overseas-listed Chinese Internet companies. KWEB was launched on Jul 31, 2013 and is managed by KraneShares.