KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Shares Gap Down to $38.38

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $38.38, but opened at $36.49. KraneShares CSI China Internet ETF shares last traded at $37.19, with a volume of 8,283,571 shares.

KraneShares CSI China Internet ETF Stock Down 2.9 %

The company’s 50-day moving average price is $27.06 and its 200-day moving average price is $27.81. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 22.48 and a beta of 1.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Greystone Financial Group LLC raised its holdings in shares of KraneShares CSI China Internet ETF by 6.4% during the 4th quarter. Greystone Financial Group LLC now owns 10,692 shares of the company’s stock worth $289,000 after acquiring an additional 640 shares during the period. B. Riley Wealth Advisors Inc. raised its position in KraneShares CSI China Internet ETF by 12.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 10,590 shares of the company’s stock valued at $286,000 after purchasing an additional 1,132 shares during the period. Hexagon Capital Partners LLC raised its position in KraneShares CSI China Internet ETF by 59.6% in the first quarter. Hexagon Capital Partners LLC now owns 3,480 shares of the company’s stock valued at $91,000 after purchasing an additional 1,300 shares during the period. Fisher Asset Management LLC grew its holdings in shares of KraneShares CSI China Internet ETF by 9.3% during the 4th quarter. Fisher Asset Management LLC now owns 22,677 shares of the company’s stock worth $612,000 after purchasing an additional 1,933 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of KraneShares CSI China Internet ETF by 30.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 8,405 shares of the company’s stock worth $221,000 after purchasing an additional 1,940 shares during the period.

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.