KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Hits New 1-Year Low – Should You Sell?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) reached a new 52-week low during trading on Monday . The company traded as low as $25.14 and last traded at $25.14, with a volume of 58063 shares. The stock had previously closed at $25.24.

KraneShares CSI China Internet ETF Stock Performance

The firm has a 50-day moving average price of $27.99 and a 200-day moving average price of $31.42. The stock has a market cap of $5.60 billion, a PE ratio of 15.95 and a beta of 0.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of KraneShares CSI China Internet ETF by 33.0% during the first quarter. NewEdge Advisors LLC now owns 177,811 shares of the company’s stock valued at $5,055,000 after acquiring an additional 44,150 shares in the last quarter. NWI Management LP purchased a new stake in KraneShares CSI China Internet ETF during the 1st quarter valued at $25,587,000. Bank of America Corp DE boosted its stake in 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 valued at $315,308,000 after purchasing an additional 2,693,759 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of KraneShares CSI China Internet ETF in the 1st quarter worth $755,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of KraneShares CSI China Internet ETF in the 1st quarter worth $5,009,000.

KraneShares CSI China Internet ETF Company Profile

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.