KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Stock Price Up 2.1% – What’s Next?

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) shot up 2.1% during trading on Wednesday . The company traded as high as $16.48 and last traded at $16.35. 85,954 shares traded hands during trading, an increase of 12% from the average session volume of 76,658 shares. The stock had previously closed at $16.02.

KraneShares Hang Seng TECH Index ETF Trading Up 2.1%

The firm’s 50-day moving average price is $16.41 and its two-hundred day moving average price is $17.10. The stock has a market cap of $58.86 million, a PE ratio of 54.50 and a beta of 0.48.

KraneShares Hang Seng TECH Index ETF Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 22nd were paid a $0.5254 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a yield of 329.0%. KraneShares Hang Seng TECH Index ETF’s payout ratio is 173.33%.

Institutional Trading of KraneShares Hang Seng TECH Index ETF

Several hedge funds and other institutional investors have recently bought and sold shares of KTEC. IFP Advisors Inc raised its position in shares of KraneShares Hang Seng TECH Index ETF by 153.4% in the 3rd quarter. IFP Advisors Inc now owns 5,575 shares of the company’s stock worth $106,000 after acquiring an additional 3,375 shares in the last quarter. Susquehanna International Group LLP purchased a new position in KraneShares Hang Seng TECH Index ETF in the third quarter valued at about $350,000. Farther Finance Advisors LLC raised its holdings in KraneShares Hang Seng TECH Index ETF by 48.6% in the third quarter. Farther Finance Advisors LLC now owns 17,944 shares of the company’s stock worth $341,000 after purchasing an additional 5,869 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF during the second quarter valued at about $207,000. Finally, Strait & Sound Wealth Management LLC lifted its position in shares of KraneShares Hang Seng TECH Index ETF by 10.5% during the second quarter. Strait & Sound Wealth Management LLC now owns 37,348 shares of the company’s stock valued at $601,000 after buying an additional 3,534 shares during the last quarter. Institutional investors own 63.86% of the company’s stock.

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.