KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Share Price Cross Above 50-Day Moving Average – Here’s What Happened

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $11.74 and traded as high as $11.81. KraneShares Hang Seng TECH Index ETF shares last traded at $11.79, with a volume of 90,610 shares.

KraneShares Hang Seng TECH Index ETF Trading Up 1.4%

The company has a market capitalization of $48.34 million, a price-to-earnings ratio of 39.30 and a beta of 0.49. The stock’s fifty day simple moving average is $11.74 and its 200-day simple moving average is $13.36.

Institutional Trading of KraneShares Hang Seng TECH Index ETF

A number of large investors have recently modified their holdings of the stock. Lavelle Capital LP purchased a new position in KraneShares Hang Seng TECH Index ETF in the first quarter valued at $1,134,000. Citadel Advisors LLC increased its holdings in KraneShares Hang Seng TECH Index ETF by 286.0% during the 2nd quarter. Citadel Advisors LLC now owns 39,135 shares of the company’s stock worth $482,000 after purchasing an additional 28,997 shares during the period. Finally, Cetera Investment Advisers increased its holdings in KraneShares Hang Seng TECH Index ETF by 22.2% during the 1st quarter. Cetera Investment Advisers now owns 22,638 shares of the company’s stock worth $311,000 after purchasing an additional 4,115 shares during the period. Hedge funds and other institutional investors own 63.86% of the company’s stock.

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.