Record Cash Floods China Tech ETF as Cathie Wood Keeps Selling
- KWEB sees two record single-day inflows after Chinese tech hit
- Ark offloading Chinese tech shares could be buy signal: Murphy
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Cathie Wood’s Ark Investment Management has been selling Chinese tech stocks, wagering they still have room to fall. But money is pouring into a beleaguered Chinese Internet fund in a bet the rout has bottomed out.
The $5 billion KraneShares CSI China Internet Fund (ticker KWEB) has seen two record one-day inflows this week, bringing its weekly haul to over $631 million so far. Total call open interest on the ETF is close to a record reached last week, nearly double that of open interest for bearish contracts.