KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Stock Price Down 5.9% – What’s Next?

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC)’s share price were down 5.9% on Tuesday . The company traded as low as $13.31 and last traded at $13.31. Approximately 23,925 shares changed hands during trading, an increase of 64% from the average daily volume of 14,582 shares. The stock had previously closed at $14.14.

KraneShares Hang Seng TECH Index ETF Trading Down 0.9 %

The company has a market capitalization of $7.93 million, a PE ratio of 24.93 and a beta of 1.19. The firm has a 50 day simple moving average of $13.42 and a two-hundred day simple moving average of $12.12.

Institutional Trading of 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 position 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. The institutional investor purchased 58,468 shares of the company’s stock, valued at approximately $840,000. Flow Traders U.S. LLC owned 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.