KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Sees Significant Drop in Short Interest

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 15,228 shares, a decrease of 95.2% from the April 15th total of 315,175 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 191,669 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF

Large investors have recently made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of KraneShares Hang Seng TECH Index ETF by 153.4% in the 3rd quarter. IFP Advisors Inc now owns 5,575 shares of the company’s stock valued at $106,000 after buying an additional 3,375 shares in the last quarter. Osaic Holdings Inc. bought a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 2nd quarter valued at approximately $207,000. Jane Street Group LLC bought a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 4th quarter valued at approximately $228,000. Cetera Investment Advisers bought a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 4th quarter valued at approximately $290,000. Finally, Susquehanna International Group LLP bought a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 3rd quarter valued at approximately $350,000. Institutional investors own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Stock Up 1.0%

Shares of KTEC traded up $0.15 during trading hours on Monday, reaching $14.44. The company’s stock had a trading volume of 45,734 shares, compared to its average volume of 89,032. The firm has a market cap of $62.09 million, a price-to-earnings ratio of 48.13 and a beta of 0.48. KraneShares Hang Seng TECH Index ETF has a 1-year low of $13.29 and a 1-year high of $19.69. The company has a 50 day moving average of $14.00 and a two-hundred day moving average of $15.55.

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.