KraneShares CSI China Internet ETF (NYSE:KWEB) Sees Large Decline in Short Interest

KraneShares CSI China Internet ETF (NYSE:KWEB) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 26,230,000 shares, a drop of 18.8% from the February 28th total of 32,290,000 shares. Based on an average daily volume of 24,427,300 shares, the days-to-cover ratio is currently 1.1 days. Approximately 11.2% of the shares of the company are short sold.

Institutional Trading of KraneShares CSI China Internet ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB boosted its position in shares of KraneShares CSI China Internet ETF by 466.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 850 shares of the company’s stock worth $25,000 after buying an additional 700 shares in the last quarter. Park Square Financial Group LLC purchased a new position in KraneShares CSI China Internet ETF during the fourth quarter worth $35,000. Oakworth Capital Inc. acquired a new position in shares of KraneShares CSI China Internet ETF in the fourth quarter worth $78,000. IFP Advisors Inc boosted its stake in shares of KraneShares CSI China Internet ETF by 553.4% during the fourth quarter. IFP Advisors Inc now owns 3,306 shares of the company’s stock valued at $97,000 after acquiring an additional 2,800 shares during the last quarter. Finally, FMR LLC increased its position in KraneShares CSI China Internet ETF by 51.1% during the 3rd quarter. FMR LLC now owns 3,409 shares of the company’s stock worth $116,000 after purchasing an additional 1,153 shares in the last quarter.

KraneShares CSI China Internet ETF Stock Performance

KWEB traded down $0.06 during trading on Wednesday, hitting $34.96. The stock had a trading volume of 13,017,270 shares, compared to its average volume of 25,781,049. The company’s 50-day moving average price is $34.34 and its 200 day moving average price is $32.24. KraneShares CSI China Internet ETF has a twelve month low of $24.68 and a twelve month high of $39.17.