KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) Shares Down 4.8% – Here’s What Happened

KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) shares fell 4.8% during trading on Wednesday . The stock traded as low as $9.48 and last traded at $9.56. 8,137 shares traded hands during trading, a decline of 61% from the average session volume of 20,932 shares. The stock had previously closed at $10.04.

KraneShares 2x Long BABA Daily ETF Stock Performance

The business’s 50 day moving average is $10.34 and its 200-day moving average is $15.25. The firm has a market capitalization of $3.43 million, a price-to-earnings ratio of 14.81 and a beta of 2.92.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in KraneShares 2x Long BABA Daily ETF stock. Jane Street Group LLC bought a new stake in KraneShares 2x Long BABA Daily ETF (NASDAQ:KBAB) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 10,304 shares of the company’s stock, valued at approximately $147,000. Jane Street Group LLC owned about 4.12% of KraneShares 2x Long BABA Daily ETF at the end of the most recent quarter.

KraneShares 2x Long BABA Daily ETF Company Profile

KraneShares Trust – KraneShares 2x Long BABA Daily ETF is an exchange traded fund launched and managed by Krane Funds Advisors, LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across diversified sectors. The fund uses derivatives such as options and swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. KraneShares Trust – KraneShares 2x Long BABA Daily ETF is domiciled in the United States.