iShares MSCI Australia ETF (NYSEARCA:EWA) Sees Strong Trading Volume – Should You Buy?

iShares MSCI Australia ETF (NYSEARCA:EWA) saw unusually-strong trading volume on Thursday . Approximately 1,610,905 shares traded hands during trading, a decline of 5% from the previous session’s volume of 1,695,266 shares.The stock last traded at $23.60 and had previously closed at $23.89.

iShares MSCI Australia ETF Price Performance

The stock’s 50 day moving average is $24.21 and its 200-day moving average is $25.08. The company has a market capitalization of $1.18 billion, a P/E ratio of 17.70 and a beta of 1.14.

Institutional Investors Weigh In On iShares MSCI Australia ETF

Several hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of iShares MSCI Australia ETF in the 3rd quarter worth about $34,000. Coppell Advisory Solutions LLC grew its holdings in iShares MSCI Australia ETF by 141.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 2,339 shares of the exchange traded fund’s stock worth $56,000 after purchasing an additional 1,372 shares during the period. Copia Wealth Management bought a new position in shares of iShares MSCI Australia ETF during the fourth quarter valued at approximately $139,000. Ping Capital Management Inc. purchased a new position in shares of iShares MSCI Australia ETF during the fourth quarter valued at approximately $239,000. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of iShares MSCI Australia ETF by 8.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 11,375 shares of the exchange traded fund’s stock worth $271,000 after purchasing an additional 875 shares in the last quarter. 59.69% of the stock is currently owned by institutional investors.

iShares MSCI Australia ETF Company Profile

iShares MSCI Australia ETF (the Fund), formerly iShares MSCI Australia Index Fund, is an exchange-traded fund (ETF). The Fund seeks to provide investment results that correspond generally to the price and yield performance, of publicly traded securities in the Australian market, as represented by the MSCI Australia Index (the Index).