Short Interest in KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Drops By 46.3%

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) saw a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 28,643,077 shares, a decrease of 46.3% from the May 14th total of 53,289,501 shares. Approximately 12.7% of the shares of the stock are sold short. Based on an average daily volume of 29,039,194 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

A number of hedge funds have recently modified their holdings of KWEB. Aurora Investment Managers LLC. lifted its position in shares of KraneShares CSI China Internet ETF by 12.6% during the 3rd quarter. Aurora Investment Managers LLC. now owns 440,048 shares of the company’s stock valued at $18,486,000 after acquiring an additional 49,302 shares during the period. GFG Capital LLC bought a new stake in shares of KraneShares CSI China Internet ETF during the 4th quarter valued at $668,000. Robinhood Asset Management LLC bought a new stake in shares of KraneShares CSI China Internet ETF during the 4th quarter valued at $54,053,000. NewEdge Wealth LLC lifted its position in shares of KraneShares CSI China Internet ETF by 67.8% during the 4th quarter. NewEdge Wealth LLC now owns 220,686 shares of the company’s stock valued at $7,514,000 after acquiring an additional 89,143 shares during the period. Finally, Quattro Financial Advisors LLC bought a new stake in shares of KraneShares CSI China Internet ETF during the 4th quarter valued at $2,676,000.

KraneShares CSI China Internet ETF Stock Performance

NYSEARCA:KWEB traded down $0.74 during mid-day trading on Tuesday, hitting $25.88. The company had a trading volume of 20,264,261 shares, compared to its average volume of 26,475,758. KraneShares CSI China Internet ETF has a fifty-two week low of $25.82 and a fifty-two week high of $43.37. The business’s fifty day moving average is $28.22 and its two-hundred day moving average is $31.77. The firm has a market cap of $5.82 billion, a P/E ratio of 15.95 and a beta of 0.34.

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.