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

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s share price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $22.91 and last traded at $23.0880, with a volume of 456,977 shares trading hands. The stock had previously closed at $23.74.

KraneShares CSI China Internet ETF Stock Down 2.0%

The company has a market cap of $4.31 billion, a PE ratio of 15.95 and a beta of 0.33. The business’s fifty day moving average is $25.21 and its 200-day moving average is $26.64.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KWEB. Bank of America Corp DE boosted its stake in shares of KraneShares CSI China Internet ETF by 32.1% in the first quarter. Bank of America Corp DE now owns 11,090,675 shares of the company’s stock worth $315,308,000 after acquiring an additional 2,693,759 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of KraneShares CSI China Internet ETF by 54.4% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,186,516 shares of the company’s stock valued at $62,163,000 after purchasing an additional 770,000 shares during the last quarter. Compass Rose Asset Management LP grew its holdings in KraneShares CSI China Internet ETF by 123.6% during the 1st quarter. Compass Rose Asset Management LP now owns 1,230,000 shares of the company’s stock valued at $34,969,000 after buying an additional 680,000 shares in the last quarter. NWI Management LP bought a new stake in KraneShares CSI China Internet ETF in the 1st quarter worth approximately $25,587,000. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD bought a new position in shares of KraneShares CSI China Internet ETF during the 2nd quarter valued at approximately $21,371,000.

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.