What muscles am I stretching?

Recently I started doing the following stretch:

Sitting on a chair in a neutral position (feet and legs shoulder-width apart, feet directly below knees) I grip each knee with one of my hands and then apply very slight pressure either to the outside or the inside, holding it that way for a minute. The knees are supposed to move very little, barely a few millimetres - the less movement the better the stretch feels.

When applying pressure from the outside it can be felt at the front and to the outside of the shin. When applying pressure from the inside, it can be felt at the front and to the inside of the shin.

Are anyone else doing something similar?