KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Shares Gap Down – Here’s Why

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.00, but opened at $33.90. KraneShares CSI China Internet ETF shares last traded at $34.47, with a volume of 11,709,849 shares traded.

KraneShares CSI China Internet ETF Stock Down 0.4 %

The stock has a market capitalization of $6.91 billion, a PE ratio of 22.48 and a beta of 1.30. The stock has a fifty day moving average of $27.94 and a 200-day moving average of $28.12.

Institutional Trading of KraneShares CSI China Internet ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its position in shares of KraneShares CSI China Internet ETF by 12.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 10,590 shares of the company’s stock worth $286,000 after purchasing an additional 1,132 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of KraneShares CSI China Internet ETF by 59.6% during the first quarter. Hexagon Capital Partners LLC now owns 3,480 shares of the company’s stock worth $91,000 after buying an additional 1,300 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of KraneShares CSI China Internet ETF by 9.3% during the fourth quarter. Fisher Asset Management LLC now owns 22,677 shares of the company’s stock worth $612,000 after buying an additional 1,933 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of KraneShares CSI China Internet ETF by 30.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 8,405 shares of the company’s stock worth $221,000 after buying an additional 1,940 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its holdings in shares of KraneShares CSI China Internet ETF by 30.4% during the first quarter. Perigon Wealth Management LLC now owns 14,618 shares of the company’s stock worth $384,000 after buying an additional 3,411 shares during the last quarter.

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.