Crestone Asset Management LLC Sells 26,485 Shares of KraneShares CSI China Internet ETF (NYSEARCA:KWEB)

Crestone Asset Management LLC cut its stake in shares of KraneShares CSI China Internet ETF (NYSEARCA:KWEB) by 74.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,856 shares of the company’s stock after selling 26,485 shares during the period. Crestone Asset Management LLC’s holdings in KraneShares CSI China Internet ETF were worth $239,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Morgan Stanley increased its position in KraneShares CSI China Internet ETF by 20.7% in the third quarter. Morgan Stanley now owns 8,511,868 shares of the company’s stock worth $232,970,000 after purchasing an additional 1,458,821 shares during the last quarter. Alaska Permanent Fund Corp raised its position in shares of KraneShares CSI China Internet ETF by 19.0% during the 4th quarter. Alaska Permanent Fund Corp now owns 7,397,867 shares of the company’s stock valued at $199,742,000 after buying an additional 1,182,456 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of KraneShares CSI China Internet ETF by 6.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 6,223,295 shares of the company’s stock valued at $170,332,000 after acquiring an additional 363,661 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of KraneShares CSI China Internet ETF by 9.4% in the 3rd quarter. Citigroup Inc. now owns 5,156,597 shares of the company’s stock valued at $141,136,000 after acquiring an additional 444,023 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its position in KraneShares CSI China Internet ETF by 208.5% in the third quarter. Krane Funds Advisors LLC now owns 4,095,008 shares of the company’s stock worth $112,080,000 after acquiring an additional 2,767,540 shares in the last quarter.

KraneShares CSI China Internet ETF Stock Performance

KWEB stock traded down $0.20 during midday trading on Wednesday, reaching $29.57. 22,535,619 shares of the company traded hands, compared to its average volume of 22,139,193. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 22.48 and a beta of 1.30. KraneShares CSI China Internet ETF has a 52-week low of $22.68 and a 52-week high of $32.06. The business has a 50 day moving average of $26.75 and a 200-day moving average of $26.30.

KraneShares CSI China Internet ETF 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.