iShares MSCI Canada ETF (NYSEARCA:EWC) Stock Price Cross Above 50 Day Moving Average – Here’s Why

iShares MSCI Canada ETF (NYSEARCA:EWC)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $56.43 and traded as high as $58.80. iShares MSCI Canada ETF shares last traded at $58.40, with a volume of 2,303,874 shares.

iShares MSCI Canada ETF Stock Performance

The company has a market cap of $5.21 billion, a PE ratio of 19.77 and a beta of 0.88. The company’s 50-day simple moving average is $56.43 and its 200 day simple moving average is $54.32.

Hedge Funds Weigh In On iShares MSCI Canada ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EWC. The Manufacturers Life Insurance Company lifted its position in shares of iShares MSCI Canada ETF by 1,675.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,178,045 shares of the exchange traded fund’s stock worth $171,392,000 after purchasing an additional 2,999,053 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in iShares MSCI Canada ETF by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 1,922,798 shares of the exchange traded fund’s stock valued at $97,197,000 after acquiring an additional 8,117 shares during the last quarter. Bank of America Corp DE lifted its position in iShares MSCI Canada ETF by 22.8% in the second quarter. Bank of America Corp DE now owns 1,769,516 shares of the exchange traded fund’s stock valued at $81,752,000 after acquiring an additional 328,742 shares during the last quarter. Korea Investment CORP lifted its position in iShares MSCI Canada ETF by 5.7% in the fourth quarter. Korea Investment CORP now owns 1,757,957 shares of the exchange traded fund’s stock valued at $94,807,000 after acquiring an additional 94,857 shares during the last quarter. Finally, Assetmark Inc. increased its stake in iShares MSCI Canada ETF by 2.8% in the fourth quarter. Assetmark Inc. now owns 1,708,400 shares of the exchange traded fund’s stock valued at $92,134,000 after purchasing an additional 46,088 shares during the period.

iShares MSCI Canada ETF Company Profile

iShares MSCI Canada ETF (the Fund), formerly iShares MSCI Canada Index Fund, is an exchange-traded fund (ETF). The 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 Canadian market, as measured by the MSCI Canada Index (the Index). The Index seeks to measure the performance of the Canadian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.