KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Shares Up 0.8% – Should You Buy?

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC)’s share price shot up 0.8% on Thursday . The stock traded as high as $13.09 and last traded at $13.09. 22,080 shares changed hands during trading, a decline of 75% from the average session volume of 88,538 shares. The stock had previously closed at $12.99.

KraneShares Hang Seng TECH Index ETF Price Performance

The stock has a market cap of $56.72 million, a PE ratio of 43.47 and a beta of 0.48. The business has a fifty day moving average of $13.29 and a 200-day moving average of $14.39.

Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF

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

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.