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 significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 22,505 shares, a drop of 79.3% from the August 15th total of 108,843 shares. Based on an average trading volume of 51,446 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.5% of the company’s shares are short sold.

Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KTEC. Osaic Holdings Inc. acquired a new position in KraneShares Hang Seng TECH Index ETF in the second quarter valued at about $207,000. Jane Street Group LLC acquired a new position in shares of KraneShares Hang Seng TECH Index ETF during the 4th quarter worth about $228,000. Cetera Investment Advisers acquired a new position in shares of KraneShares Hang Seng TECH Index ETF during the 4th quarter worth about $290,000. Susquehanna International Group LLP bought a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 3rd quarter valued at about $350,000. Finally, NewEdge Advisors LLC bought a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 1st quarter valued at about $447,000. Institutional investors own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Stock Performance

KTEC opened at $12.01 on Friday. The company has a fifty day moving average price of $13.06 and a two-hundred day moving average price of $13.49. The firm has a market capitalization of $52.24 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.

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.