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

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 22,505 shares, a decline of 79.3% from the August 15th total of 108,843 shares. Based on an average daily volume of 51,446 shares, the short-interest ratio is currently 0.4 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Lavelle Capital LP bought a new position in shares of KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at about $1,134,000. Susquehanna International Group LLP acquired a new position in shares of KraneShares Hang Seng TECH Index ETF during the 3rd quarter worth approximately $350,000. Jane Street Group LLC raised its stake in KraneShares Hang Seng TECH Index ETF by 268.8% in the 1st quarter. Jane Street Group LLC now owns 181,503 shares of the company’s stock valued at $2,946,000 after acquiring an additional 132,285 shares during the period. NewEdge Advisors LLC bought a new stake in KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at $447,000. Finally, Citadel Advisors LLC lifted its holdings 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 valued at $482,000 after purchasing an additional 28,997 shares during the last quarter. Institutional investors own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Trading Up 0.2%

Shares of KTEC stock traded up $0.02 during trading hours on Friday, hitting $11.98. 54,110 shares of the company were exchanged, compared to its average volume of 77,848. The company has a market capitalization of $52.11 million, a PE ratio of 39.93 and a beta of 0.48. KraneShares Hang Seng TECH Index ETF has a 52 week low of $11.81 and a 52 week high of $19.69. The business has a 50 day moving average of $13.06 and a two-hundred day moving average of $13.48.

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.