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

Shares of KraneShares CSI China Internet ETF (NYSEARCA:KWEB) 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 changing hands.

KraneShares CSI China Internet ETF Trading Up 3.3 %

The stock has a market cap of $7.62 billion, a P/E ratio of 22.48 and a beta of 1.30. The stock’s fifty day moving average price is $27.52 and its 200 day moving average price is $27.96.

Hedge Funds Weigh In On KraneShares CSI China Internet ETF

A number of hedge funds have recently bought and sold shares of KWEB. Stifel Financial Corp boosted its stake in KraneShares CSI China Internet ETF by 25.9% in the 4th quarter. Stifel Financial Corp now owns 216,248 shares of the company’s stock worth $5,839,000 after purchasing an additional 44,488 shares in the last quarter. Stamos Capital Partners L.P. purchased a new position in KraneShares CSI China Internet ETF in the 4th quarter worth about $2,001,000. Greystone Financial Group LLC raised its position in KraneShares CSI China Internet ETF by 6.4% in the 4th quarter. Greystone Financial Group LLC now owns 10,692 shares of the company’s stock worth $289,000 after buying an additional 640 shares during the last quarter. LM Advisors LLC purchased a new position in KraneShares CSI China Internet ETF in the 4th quarter worth about $376,000. Finally, Coatue Management LLC raised its position in KraneShares CSI China Internet ETF by 0.3% in the 4th quarter. Coatue Management LLC now owns 1,664,814 shares of the company’s stock worth $44,950,000 after buying an additional 5,637 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.