iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Stock Price Down 2.5% – What’s Next?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) fell 2.5% on Tuesday . The company traded as low as $38.18 and last traded at $38.20. 65,803 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 461,598 shares. The stock had previously closed at $39.17.

iShares MSCI Saudi Arabia ETF Trading Down 2.4%

The firm has a 50-day moving average price of $40.09 and a 200-day moving average price of $40.97. The stock has a market capitalization of $674.49 million, a PE ratio of 18.08 and a beta of 0.49.

Hedge Funds Weigh In On iShares MSCI Saudi Arabia ETF

Several institutional investors have recently modified their holdings of the company. Northern Trust Corp increased its stake in shares of iShares MSCI Saudi Arabia ETF by 1.3% in the first quarter. Northern Trust Corp now owns 1,924,800 shares of the company’s stock worth $79,629,000 after buying an additional 25,400 shares during the period. Teacher Retirement System of Texas bought a new stake in iShares MSCI Saudi Arabia ETF during the 1st quarter valued at approximately $66,173,000. Wealthfront Advisers LLC purchased a new stake in iShares MSCI Saudi Arabia ETF in the fourth quarter worth $51,211,000. Martin Currie Ltd. increased its stake in shares of iShares MSCI Saudi Arabia ETF by 7.0% during the first quarter. Martin Currie Ltd. now owns 794,471 shares of the company’s stock valued at $32,867,000 after purchasing an additional 51,912 shares in the last quarter. Finally, Mondrian Investment Partners LTD increased its position in iShares MSCI Saudi Arabia ETF by 14.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 679,541 shares of the company’s stock valued at $28,717,000 after buying an additional 84,471 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.