KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Share Price Break Above Fifty Day Moving Average – Should You Sell?

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $11.74 and traded as high as $11.81. KraneShares Hang Seng TECH Index ETF shares last traded at $11.79, with a volume of 90,610 shares.

KraneShares Hang Seng TECH Index ETF Trading Up 1.4%

The firm has a fifty day moving average of $11.74 and a two-hundred day moving average of $13.36. The company has a market cap of $48.34 million, a PE ratio of 39.30 and a beta of 0.49.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

Several institutional investors have recently made changes to their positions in the company. Lavelle Capital LP acquired a new position in shares of KraneShares Hang Seng TECH Index ETF in the 1st quarter worth approximately $1,134,000. Citadel Advisors LLC grew its holdings in shares of KraneShares Hang Seng TECH Index ETF by 286.0% during the 2nd quarter. Citadel Advisors LLC now owns 39,135 shares of the company’s stock worth $482,000 after purchasing an additional 28,997 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of KraneShares Hang Seng TECH Index ETF by 22.2% in the 1st quarter. Cetera Investment Advisers now owns 22,638 shares of the company’s stock valued at $311,000 after purchasing an additional 4,115 shares in the last quarter. 63.86% of the stock is owned by hedge funds and other institutional investors.

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.