iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Sees Unusually-High Trading Volume – Still a Buy?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) saw an uptick in trading volume on Tuesday . 501,280 shares were traded during trading, an increase of 11% from the previous session’s volume of 451,295 shares.The stock last traded at $40.28 and had previously closed at $40.49.

iShares MSCI Saudi Arabia ETF Price Performance

The company has a market capitalization of $676.40 million, a PE ratio of 17.99 and a beta of 0.56. The stock’s 50 day simple moving average is $41.50 and its 200-day simple moving average is $41.57.

Institutional Investors Weigh In On iShares MSCI Saudi Arabia ETF

Hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of iShares MSCI Saudi Arabia ETF during the 3rd quarter worth $201,000. Fairtree Asset Management Pty Ltd purchased a new stake in iShares MSCI Saudi Arabia ETF during the 4th quarter worth about $204,000. Custom Index Systems LLC acquired a new position in shares of iShares MSCI Saudi Arabia ETF during the 4th quarter worth about $276,000. Denali Advisors LLC increased its holdings in shares of iShares MSCI Saudi Arabia ETF by 3.4% in the 4th quarter. Denali Advisors LLC now owns 9,000 shares of the company’s stock valued at $368,000 after acquiring an additional 300 shares during the last quarter. Finally, Man Group plc raised its position in shares of iShares MSCI Saudi Arabia ETF by 47.5% during the 4th quarter. Man Group plc now owns 9,000 shares of the company’s stock worth $368,000 after acquiring an additional 2,900 shares in the last quarter.

About iShares MSCI Saudi Arabia ETF

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.