KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Trading Down 1.7% – Time to Sell?

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC)’s stock price dropped 1.7% during mid-day trading on Wednesday . The company traded as low as $14.59 and last traded at $14.64. Approximately 24,465 shares traded hands during mid-day trading, an increase of 101% from the average daily volume of 12,181 shares. The stock had previously closed at $14.90.

KraneShares Hang Seng TECH Index ETF Stock Up 5.5 %

The company has a fifty day moving average of $13.72 and a two-hundred day moving average of $12.89. The stock has a market capitalization of $9.26 million, a price-to-earnings ratio of 24.93 and a beta of 1.19.

Institutional Investors Weigh In On KraneShares Hang Seng TECH Index ETF

A hedge fund recently bought a new stake in KraneShares Hang Seng TECH Index ETF stock. Flow Traders U.S. LLC purchased a new stake in shares of KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 58,468 shares of the company’s stock, valued at approximately $840,000. Flow Traders U.S. LLC owned approximately 9.74% of KraneShares Hang Seng TECH Index ETF as of its most recent SEC filing.

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.