KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Shares Gap Up – Still a Buy?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s share price gapped up prior to trading on Friday . The stock had previously closed at $31.17, but opened at $32.99. KraneShares CSI China Internet ETF shares last traded at $32.64, with a volume of 10,633,683 shares changing hands.

KraneShares CSI China Internet ETF Stock Performance

The company has a market capitalization of $6.44 billion, a PE ratio of 22.48 and a beta of 1.30. The firm’s 50-day simple moving average is $28.98 and its 200 day simple moving average is $28.45.

Institutional Trading of KraneShares CSI China Internet ETF

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC increased its stake in KraneShares CSI China Internet ETF by 59.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,480 shares of the company’s stock valued at $91,000 after purchasing an additional 1,300 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in shares of 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 worth $221,000 after acquiring an additional 1,940 shares during the last quarter. Mizuho Securities USA LLC purchased a new stake in shares of KraneShares CSI China Internet ETF during the 1st quarter valued at $262,000. 180 Wealth Advisors LLC purchased a new stake in KraneShares CSI China Internet ETF during the first quarter valued at about $266,000. Finally, VitalStone Financial LLC increased its position in KraneShares CSI China Internet ETF by 2,563.1% during the 1st quarter. VitalStone Financial LLC now owns 10,812 shares of the company’s stock worth $284,000 after purchasing an additional 10,406 shares in the last quarter.

KraneShares CSI China Internet ETF Company Profile

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.