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

Shares of KraneShares CSI China Internet ETF (NYSEARCA:KWEB) gapped down before the market opened on Friday . The stock had previously closed at $30.70, but opened at $29.93. KraneShares CSI China Internet ETF shares last traded at $29.84, with a volume of 6,760,880 shares traded.

KraneShares CSI China Internet ETF Trading Down 2.8 %

The company’s 50-day simple moving average is $31.98 and its 200-day simple moving average is $29.27. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 22.48 and a beta of 1.30.

Institutional Investors Weigh In On KraneShares CSI China Internet ETF

A hedge fund recently bought a new stake in KraneShares CSI China Internet ETF stock. Quadrature Capital Ltd bought a new position in shares of KraneShares CSI China Internet ETF (NYSEARCA:KWEB) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 349,146 shares of the company’s stock, valued at approximately $9,165,000. Quadrature Capital Ltd owned approximately 0.18% of KraneShares CSI China Internet ETF as of its most recent SEC filing.

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.