KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Short Interest Update

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 28,643,077 shares, a drop of 46.3% from the May 14th total of 53,289,501 shares. Currently, 12.7% of the company’s stock are sold short. Based on an average daily volume of 29,039,194 shares, the days-to-cover ratio is currently 1.0 days.

KraneShares CSI China Internet ETF Trading Down 0.3%

KWEB traded down $0.08 during trading on Friday, hitting $26.49. The stock had a trading volume of 13,341,421 shares, compared to its average volume of 26,626,285. The firm has a market cap of $5.95 billion, a PE ratio of 15.95 and a beta of 0.34. KraneShares CSI China Internet ETF has a 12 month low of $25.90 and a 12 month high of $43.37. The company has a 50 day simple moving average of $28.25 and a 200-day simple moving average of $31.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new position in shares of KraneShares CSI China Internet ETF during the 3rd quarter worth about $34,000. SBI Securities Co. Ltd. increased its holdings in shares of KraneShares CSI China Internet ETF by 634.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 837 shares of the company’s stock worth $28,000 after purchasing an additional 723 shares during the period. Manchester Capital Management LLC bought a new position in shares of KraneShares CSI China Internet ETF during the 4th quarter worth about $32,000. Fortitude Family Office LLC bought a new position in shares of KraneShares CSI China Internet ETF during the 4th quarter worth about $45,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of KraneShares CSI China Internet ETF during the 4th quarter worth about $45,000.

About KraneShares CSI China Internet ETF

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.