KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Stock Price Down 6.2% – Here’s Why

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) shares were down 6.2% during mid-day trading on Tuesday . The company traded as low as $31.83 and last traded at $31.95. Approximately 31,816,809 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 21,835,822 shares. The stock had previously closed at $34.05.

KraneShares CSI China Internet ETF Price Performance

The company’s 50 day simple moving average is $28.64 and its 200 day simple moving average is $28.36. The company has a market capitalization of $6.32 billion, a PE ratio of 22.48 and a beta of 1.30.

Hedge Funds Weigh In On KraneShares CSI China Internet ETF

Large investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its position in shares of KraneShares CSI China Internet ETF by 59.6% during the first quarter. Hexagon Capital Partners LLC now owns 3,480 shares of the company’s stock worth $91,000 after acquiring an additional 1,300 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in KraneShares CSI China Internet ETF by 30.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 8,405 shares of the company’s stock valued at $221,000 after purchasing an additional 1,940 shares during the period. Mizuho Securities USA LLC purchased a new stake in shares of KraneShares CSI China Internet ETF in the first quarter valued at about $262,000. 180 Wealth Advisors LLC acquired a new stake in shares of KraneShares CSI China Internet ETF during the first quarter worth about $266,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of KraneShares CSI China Internet ETF by 12.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 10,590 shares of the company’s stock worth $286,000 after buying an additional 1,132 shares during the period.

About KraneShares CSI China Internet ETF

The KraneShares CSI China Internet ETF (KWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund tracks a market cap-weighted index composed of overseas-listed Chinese Internet companies. KWEB was launched on Jul 31, 2013 and is managed by KraneShares.