KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Reaches New 52-Week Low – Here’s Why

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $26.23 and last traded at $26.36, with a volume of 4825737 shares changing hands. The stock had previously closed at $27.04.

KraneShares CSI China Internet ETF Trading Down 2.0%

The business has a 50 day simple moving average of $28.69 and a 200-day simple moving average of $32.81. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 15.95 and a beta of 0.36.

Institutional Trading of KraneShares CSI China Internet ETF

A number of hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise boosted its stake in KraneShares CSI China Internet ETF by 2.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 9,953 shares of the company’s stock worth $418,000 after buying an additional 284 shares during the last quarter. Magnus Financial Group LLC boosted its holdings in KraneShares CSI China Internet ETF by 2.4% in the fourth quarter. Magnus Financial Group LLC now owns 15,901 shares of the company’s stock valued at $541,000 after acquiring an additional 380 shares during the last quarter. TAGStone Capital Inc. grew its position in KraneShares CSI China Internet ETF by 6.1% during the fourth quarter. TAGStone Capital Inc. now owns 6,815 shares of the company’s stock valued at $232,000 after acquiring an additional 390 shares during the period. Highline Wealth Partners LLC raised its holdings in shares of KraneShares CSI China Internet ETF by 5.6% in the 4th quarter. Highline Wealth Partners LLC now owns 7,994 shares of the company’s stock worth $272,000 after purchasing an additional 424 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of KraneShares CSI China Internet ETF by 6.1% in the 4th quarter. Larson Financial Group LLC now owns 8,490 shares of the company’s stock worth $289,000 after purchasing an additional 487 shares during the period.

KraneShares CSI China Internet ETF Company Profile

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.