KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Stock Price Down 1.6% – Time to Sell?

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) shares traded down 1.6% during mid-day trading on Tuesday . The company traded as low as $15.88 and last traded at $15.97. 65,410 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 49,822 shares. The stock had previously closed at $16.23.

KraneShares Hang Seng TECH Index ETF Price Performance

The stock has a fifty day moving average price of $15.62 and a 200-day moving average price of $15.26. The company has a market cap of $43.92 million, a PE ratio of 18.63 and a beta of 0.44.

Institutional Trading of KraneShares Hang Seng TECH Index ETF

Hedge funds have recently modified their holdings of the business. IFP Advisors Inc purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF in the first quarter valued at $26,000. Farther Finance Advisors LLC purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the first quarter worth $212,000. NewEdge Advisors LLC purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the first quarter worth $447,000. Strait & Sound Wealth Management LLC purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the first quarter worth $549,000. Finally, Jane Street Group LLC purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the fourth quarter worth $658,000.

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.