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

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

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

Large investors have recently made changes to their positions in the business. IFP Advisors Inc increased its holdings 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 purchasing an additional 3,375 shares during the period. Osaic Holdings Inc. acquired a new position in shares of KraneShares Hang Seng TECH Index ETF in the 2nd quarter valued at about $207,000. Jane Street Group LLC acquired a new position in shares of KraneShares Hang Seng TECH Index ETF in the 4th quarter valued at about $228,000. Susquehanna International Group LLP acquired a new position in shares of KraneShares Hang Seng TECH Index ETF in the 3rd quarter valued at about $350,000. Finally, NewEdge Advisors LLC acquired a new position in shares of KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at about $447,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Price Performance

NYSEARCA KTEC traded up $0.15 on Monday, hitting $14.44. 45,734 shares of the company were exchanged, compared to its average volume of 89,032. The firm has a market capitalization of $62.09 million, a P/E ratio of 48.13 and a beta of 0.48. KraneShares Hang Seng TECH Index ETF has a twelve month low of $13.29 and a twelve month high of $19.69. The company’s 50 day moving average price is $14.00 and its 200-day moving average price is $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.