KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Shares Up 0.1% – Here’s Why

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC)’s stock price were up 0.1% on Thursday . The stock traded as high as $12.88 and last traded at $12.78. 48,340 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 86,723 shares. The stock had previously closed at $12.77.

KraneShares Hang Seng TECH Index ETF Stock Up 0.1%

The stock has a market capitalization of $54.95 million, a price-to-earnings ratio of 42.60 and a beta of 0.47. The business’s 50-day moving average is $13.81 and its two-hundred day moving average is $14.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc grew its position in shares of KraneShares Hang Seng TECH Index ETF by 153.4% in the third quarter. IFP Advisors Inc now owns 5,575 shares of the company’s stock valued at $106,000 after purchasing an additional 3,375 shares in the last quarter. Osaic Holdings Inc. acquired a new position in KraneShares Hang Seng TECH Index ETF during the second quarter worth $207,000. Jane Street Group LLC purchased a new stake in KraneShares Hang Seng TECH Index ETF in the 4th quarter valued at $228,000. Cetera Investment Advisers acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 4th quarter worth $290,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of KraneShares Hang Seng TECH Index ETF in the 3rd quarter worth $350,000. 63.86% of the stock is currently owned by institutional investors and hedge funds.

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.