Short Interest in KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Drops By 79.3%

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 22,505 shares, a decline of 79.3% from the August 15th total of 108,843 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 51,446 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF

A number of large investors have recently added to or reduced their stakes in KTEC. Jane Street Group LLC increased its holdings in 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 valued at $2,946,000 after acquiring an additional 132,285 shares in the last quarter. Lavelle Capital LP acquired a new position in KraneShares Hang Seng TECH Index ETF during the first quarter worth about $1,134,000. Citadel Advisors LLC lifted its holdings in shares of KraneShares Hang Seng TECH Index ETF by 286.0% in the second quarter. Citadel Advisors LLC now owns 39,135 shares of the company’s stock valued at $482,000 after purchasing an additional 28,997 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF in the first quarter valued at about $447,000. Finally, Cetera Investment Advisers acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF in the fourth quarter valued at approximately $290,000. 63.86% of the stock is owned by institutional investors and hedge funds.

KraneShares Hang Seng TECH Index ETF Price Performance

KraneShares Hang Seng TECH Index ETF stock traded up $0.02 during trading hours on Friday, hitting $11.98. The stock had a trading volume of 54,110 shares, compared to its average volume of 77,848. KraneShares Hang Seng TECH Index ETF has a 1-year low of $11.81 and a 1-year high of $19.69. The stock has a market capitalization of $52.11 million, a price-to-earnings ratio of 39.93 and a beta of 0.48. The stock’s fifty day moving average is $13.06 and its two-hundred day moving average is $13.48.

About KraneShares Hang Seng TECH Index ETF

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.