KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Shares Down 2% – Should You Sell?

Shares of KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) fell 2% during trading on Tuesday . The stock traded as low as $16.35 and last traded at $16.42. 36,115 shares were traded during mid-day trading, a decline of 47% from the average session volume of 68,366 shares. The stock had previously closed at $16.75.

KraneShares Hang Seng TECH Index ETF Trading Down 2.0%

The firm has a market capitalization of $57.47 million, a PE ratio of 54.73 and a beta of 0.48. The firm’s fifty day moving average price is $17.53 and its 200 day moving average price is $17.04.

Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake 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 valued at $106,000 after buying an additional 3,375 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF in the second quarter worth about $207,000. Farther Finance Advisors LLC grew its holdings in KraneShares Hang Seng TECH Index ETF by 48.6% during the third quarter. Farther Finance Advisors LLC now owns 17,944 shares of the company’s stock worth $341,000 after acquiring an additional 5,869 shares during the period. Susquehanna International Group LLP acquired a new stake in KraneShares Hang Seng TECH Index ETF during the third quarter worth about $350,000. Finally, NewEdge Advisors LLC purchased a new position in KraneShares Hang Seng TECH Index ETF during the first quarter valued at approximately $447,000. 63.86% of the stock is owned by institutional investors and hedge funds.

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.