iShares MSCI Brazil ETF (NYSEARCA:EWZ) Hits New 12-Month High – Here’s Why

iShares MSCI Brazil ETF (NYSEARCA:EWZ)’s stock price reached a new 52-week high on Monday . The stock traded as high as $39.60 and last traded at $39.4360, with a volume of 7645977 shares changing hands. The stock had previously closed at $39.37.

iShares MSCI Brazil ETF Stock Performance

The stock has a market cap of $9.18 billion, a P/E ratio of 9.58 and a beta of 0.87. The stock has a 50-day moving average price of $34.77 and a 200-day moving average price of $32.13.

Hedge Funds Weigh In On iShares MSCI Brazil ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in shares of iShares MSCI Brazil ETF by 16.7% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the exchange traded fund’s stock valued at $65,000 after buying an additional 293 shares in the last quarter. 3EDGE Asset Management LP grew its position in iShares MSCI Brazil ETF by 2.6% in the fourth quarter. 3EDGE Asset Management LP now owns 14,885 shares of the exchange traded fund’s stock worth $473,000 after acquiring an additional 382 shares in the last quarter. Global Retirement Partners LLC increased its stake in iShares MSCI Brazil ETF by 11.0% in the third quarter. Global Retirement Partners LLC now owns 3,975 shares of the exchange traded fund’s stock valued at $123,000 after acquiring an additional 395 shares during the last quarter. Nwam LLC raised its position in iShares MSCI Brazil ETF by 2.2% during the fourth quarter. Nwam LLC now owns 18,410 shares of the exchange traded fund’s stock valued at $585,000 after purchasing an additional 397 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. raised its position in iShares MSCI Brazil ETF by 5.4% during the third quarter. Retirement Planning Co of New England Inc. now owns 8,093 shares of the exchange traded fund’s stock valued at $251,000 after purchasing an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 72.69% of the company’s stock.

About iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.