Short Interest in KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Decreases By 35.7%
by Jessica Moore · The Cerbat GemKraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC – Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 26,228 shares, a drop of 35.7% from the March 15th total of 40,768 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 60,963 shares, the short-interest ratio is currently 0.4 days.
KraneShares Hang Seng TECH Index ETF Price Performance
Shares of NYSEARCA:KTEC traded up $0.29 during mid-day trading on Tuesday, reaching $14.20. 97,322 shares of the company were exchanged, compared to its average volume of 74,607. The firm has a market cap of $53.96 million, a price-to-earnings ratio of 47.33 and a beta of 0.50. The firm’s 50-day simple moving average is $14.35 and its 200 day simple moving average is $16.07. KraneShares Hang Seng TECH Index ETF has a 1 year low of $13.29 and a 1 year high of $19.69.
Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF
A number of hedge funds have recently made changes to their positions in KTEC. Jane Street Group LLC boosted its position in shares of KraneShares Hang Seng TECH Index ETF by 268.8% during the 1st quarter. Jane Street Group LLC now owns 181,503 shares of the company’s stock worth $2,946,000 after purchasing an additional 132,285 shares during the period. NewEdge Advisors LLC purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 1st quarter worth approximately $447,000. Cetera Investment Advisers purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 4th quarter worth approximately $290,000. Susquehanna International Group LLP purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 3rd quarter worth approximately $350,000. Finally, Osaic Holdings Inc. purchased a new position in shares of KraneShares Hang Seng TECH Index ETF during the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 63.86% of the company’s stock.
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.