KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) Shares Down 1.7% – Here’s What Happened

KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) shares were down 1.7% during trading on Wednesday . The stock 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 Performance

The firm has a market capitalization of $9.23 million, a P/E ratio of 24.93 and a beta of 1.19. The stock has a fifty day moving average price of $13.76 and a two-hundred day moving average price of $12.91.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in KraneShares Hang Seng TECH Index ETF stock. Flow Traders U.S. LLC bought a new position in KraneShares Hang Seng TECH Index ETF (NYSEARCA:KTEC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,468 shares of the company’s stock, valued at approximately $840,000. Flow Traders U.S. LLC owned about 9.74% of KraneShares Hang Seng TECH Index ETF as of its most recent SEC filing.

KraneShares Hang Seng TECH Index ETF Company Profile

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.