KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Hits New 1-Year Low – What’s Next?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s stock price hit a new 52-week low on Monday . The company traded as low as $23.23 and last traded at $24.37, with a volume of 283225 shares. The stock had previously closed at $23.94.

KraneShares CSI China Internet ETF Stock Up 2.0%

The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 15.95 and a beta of 0.34. The company’s 50-day simple moving average is $27.51 and its 200-day simple moving average is $30.96.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

A number of institutional investors and hedge funds have recently modified their holdings of KWEB. SBI Securities Co. Ltd. boosted its position in shares of KraneShares CSI China Internet ETF by 634.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 837 shares of the company’s stock valued at $28,000 after purchasing an additional 723 shares during the period. Manchester Capital Management LLC acquired a new stake in KraneShares CSI China Internet ETF during the 4th quarter worth about $32,000. JPL Wealth Management LLC purchased a new stake in KraneShares CSI China Internet ETF during the third quarter valued at about $34,000. Fortitude Family Office LLC purchased a new stake in KraneShares CSI China Internet ETF during the fourth quarter valued at about $45,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of KraneShares CSI China Internet ETF in the fourth quarter worth about $45,000.

About KraneShares CSI China Internet ETF

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.