KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Shares Gap Up – Here’s What Happened

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 traded.

KraneShares CSI China Internet ETF Price Performance

The firm has a 50 day simple moving average of $28.98 and a 200-day simple moving average of $28.45. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 22.48 and a beta of 1.30.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its stake in shares of KraneShares CSI China Internet ETF by 77.6% in the first quarter. Jane Street Group LLC now owns 7,942,867 shares of the company’s stock valued at $208,500,000 after buying an additional 3,470,684 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in shares of KraneShares CSI China Internet ETF during the first quarter worth about $102,160,000. OLD Mission Capital LLC purchased a new position in shares of KraneShares CSI China Internet ETF in the first quarter valued at approximately $41,662,000. Bleakley Financial Group LLC grew its holdings in shares of KraneShares CSI China Internet ETF by 74.0% in the first quarter. Bleakley Financial Group LLC now owns 364,696 shares of the company’s stock valued at $9,573,000 after purchasing an additional 155,088 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in KraneShares CSI China Internet ETF during the 1st quarter worth approximately $9,165,000.

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.