KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Shares Gap Down – Should You Sell?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB)’s share price gapped down prior to trading 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 changing hands.

KraneShares CSI China Internet ETF Stock Performance

The company has a market capitalization of $5.92 billion, a PE ratio of 22.48 and a beta of 1.30. The firm’s 50-day simple moving average is $32.07 and its 200 day simple moving average is $29.26.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in KraneShares CSI China Internet ETF stock. Jane Street Group LLC increased its position in KraneShares CSI China Internet ETF (NYSEARCA:KWEB) by 77.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,942,867 shares of the company’s stock after acquiring an additional 3,470,684 shares during the period. Jane Street Group LLC owned approximately 4.01% of KraneShares CSI China Internet ETF worth $208,500,000 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.