Short Interest in KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Drops By 35.7%

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) was the recipient of a significant 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. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 60,963 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On KraneShares Hang Seng TECH Index ETF

A number of hedge funds have recently bought and sold shares of KTEC. NewEdge Advisors LLC purchased a new position in KraneShares Hang Seng TECH Index ETF during the first quarter worth approximately $447,000. Jane Street Group LLC boosted its position in KraneShares Hang Seng TECH Index ETF by 268.8% during the first 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 in the last quarter. Osaic Holdings Inc. purchased a new position in shares of KraneShares Hang Seng TECH Index ETF in the second quarter valued at approximately $207,000. Farther Finance Advisors LLC lifted its position in shares of KraneShares Hang Seng TECH Index ETF by 48.6% in the third quarter. Farther Finance Advisors LLC now owns 17,944 shares of the company’s stock valued at $341,000 after acquiring an additional 5,869 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of KraneShares Hang Seng TECH Index ETF in the third quarter valued at approximately $350,000. Hedge funds and other institutional investors own 63.86% of the company’s stock.

KraneShares Hang Seng TECH Index ETF Stock Performance

KraneShares Hang Seng TECH Index ETF stock traded up $0.26 during midday trading on Thursday, hitting $14.50. 40,335 shares of the company were exchanged, compared to its average volume of 74,638. The firm has a market capitalization of $55.10 million, a PE ratio of 48.33 and a beta of 0.50. KraneShares Hang Seng TECH Index ETF has a fifty-two week low of $13.29 and a fifty-two week high of $19.69. The business has a fifty day simple moving average of $14.33 and a two-hundred day simple moving average of $16.06.

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.