iShares MSCI Australia ETF (NYSEARCA:EWA) Reaches New 1-Year High – Still a Buy?

iShares MSCI Australia ETF (NYSEARCA:EWA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $30.25 and last traded at $30.21, with a volume of 226562 shares changing hands. The stock had previously closed at $30.18.

iShares MSCI Australia ETF Price Performance

The firm has a fifty day moving average of $28.77 and a 200-day moving average of $27.37. The firm has a market cap of $1.45 billion, a P/E ratio of 19.89 and a beta of 1.01.

Hedge Funds Weigh In On iShares MSCI Australia ETF

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in iShares MSCI Australia ETF by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,538,390 shares of the exchange traded fund’s stock worth $68,537,000 after buying an additional 55,900 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in iShares MSCI Australia ETF during the fourth quarter worth about $49,625,000. DV Equities LLC bought a new position in iShares MSCI Australia ETF during the fourth quarter worth about $34,267,000. Vontobel Holding Ltd. boosted its holdings in iShares MSCI Australia ETF by 6.4% during the fourth quarter. Vontobel Holding Ltd. now owns 972,230 shares of the exchange traded fund’s stock worth $25,463,000 after buying an additional 58,100 shares during the last quarter. Finally, Cadinha & Co. LLC bought a new position in iShares MSCI Australia ETF during the third quarter worth about $25,349,000. Institutional investors own 59.69% of the company’s stock.

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). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Index seeks to measure the performance of the Australian equity market.