KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Shares Gap Up – Here’s What Happened

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) gapped up prior to trading on Wednesday . The stock had previously closed at $25.51, but opened at $26.50. KraneShares CSI China Internet ETF shares last traded at $26.44, with a volume of 7,826,213 shares trading hands.

KraneShares CSI China Internet ETF Stock Performance

The firm has a market cap of $5.24 billion, a P/E ratio of 15.95 and a beta of 0.35. The firm has a 50 day simple moving average of $26.88 and a 200 day simple moving average of $30.39.

Hedge Funds Weigh In On KraneShares CSI China Internet ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPL Wealth Management LLC purchased a new position in KraneShares CSI China Internet ETF in the third quarter valued at about $34,000. SBI Securities Co. Ltd. boosted its stake in shares of KraneShares CSI China Internet ETF by 634.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 837 shares of the company’s stock valued at $28,000 after buying an additional 723 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of KraneShares CSI China Internet ETF during the 4th quarter worth approximately $32,000. Fortitude Family Office LLC purchased a new position in KraneShares CSI China Internet ETF during the 4th quarter valued at about $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of KraneShares CSI China Internet ETF during the fourth quarter valued at $45,000.

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.