KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Hits New 12-Month Low – Here’s What Happened

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) shares reached a new 52-week low on Monday . The stock traded as low as $27.79 and last traded at $27.89, with a volume of 2635513 shares traded. The stock had previously closed at $27.91.

KraneShares CSI China Internet ETF Stock Up 2.3%

The company has a market cap of $6.88 billion, a P/E ratio of 15.95 and a beta of 0.25. The firm’s 50-day moving average price is $31.93 and its 200-day moving average price is $36.15.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. lifted its position in shares of KraneShares CSI China Internet ETF by 12.5% during the third quarter. Bessemer Group Inc. now owns 7,130,716 shares of the company’s stock worth $299,561,000 after acquiring an additional 791,095 shares in the last quarter. Temasek Holdings Private Ltd grew its position in shares of KraneShares CSI China Internet ETF by 98.5% in the fourth quarter. Temasek Holdings Private Ltd now owns 6,499,382 shares of the company’s stock valued at $221,304,000 after purchasing an additional 3,225,790 shares in the last quarter. Rafferty Asset Management LLC grew its position in shares of KraneShares CSI China Internet ETF by 6.1% in the fourth quarter. Rafferty Asset Management LLC now owns 4,302,191 shares of the company’s stock valued at $146,490,000 after purchasing an additional 247,264 shares in the last quarter. Krane Funds Advisors LLC raised its stake in shares of KraneShares CSI China Internet ETF by 19.6% during the 4th quarter. Krane Funds Advisors LLC now owns 3,856,700 shares of the company’s stock valued at $131,321,000 after purchasing an additional 631,799 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of KraneShares CSI China Internet ETF by 0.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,623,034 shares of the company’s stock valued at $123,365,000 after purchasing an additional 12,467 shares during the period.

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.