KraneShares Artificial Intelligence and Technology ETF (NASDAQ:AGIX) Shares Break Below 200 Day Moving Average – Here’s What Happened

KraneShares Artificial Intelligence and Technology ETF (NASDAQ:AGIX) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $41.54 and traded as low as $40.61. KraneShares Artificial Intelligence and Technology ETF shares last traded at $40.68, with a volume of 127,249 shares.

KraneShares Artificial Intelligence and Technology ETF Stock Down 2.3%

The company’s 50-day moving average is $45.87 and its 200 day moving average is $41.54. The company has a market cap of $689.53 million, a price-to-earnings ratio of 36.18 and a beta of 1.95.

Institutional Investors Weigh In On KraneShares Artificial Intelligence and Technology ETF

Several hedge funds have recently modified their holdings of AGIX. Commonwealth Equity Services LLC boosted its position in KraneShares Artificial Intelligence and Technology ETF by 6.1% during the third quarter. Commonwealth Equity Services LLC now owns 7,432 shares of the company’s stock worth $353,000 after purchasing an additional 429 shares in the last quarter. Total Clarity Wealth Management Inc. grew its holdings in KraneShares Artificial Intelligence and Technology ETF by 10.9% in the third quarter. Total Clarity Wealth Management Inc. now owns 8,997 shares of the company’s stock valued at $428,000 after purchasing an additional 885 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of KraneShares Artificial Intelligence and Technology ETF in the third quarter valued at approximately $408,000. SFG Wealth Management LLC. increased its position in shares of KraneShares Artificial Intelligence and Technology ETF by 1.2% in the third quarter. SFG Wealth Management LLC. now owns 23,536 shares of the company’s stock valued at $1,119,000 after buying an additional 287 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of KraneShares Artificial Intelligence and Technology ETF in the third quarter valued at approximately $256,000.

About KraneShares Artificial Intelligence and Technology ETF

The KraneShares Artificial Intelligence & Technology ETF (AGIX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund uses an index as a guide to select stocks globally that are involved in developing and applying artificial intelligence technologies. The fund has the ability to invest in both listed and private AI companies AGIX was launched on Jul 18, 2024 and is issued by KraneShares.