Short Interest in iShares MSCI UAE ETF (NASDAQ:UAE) Decreases By 38.0%

iShares MSCI UAE ETF (NASDAQ:UAE) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 351,248 shares, a drop of 38.0% from the July 15th total of 566,513 shares. Based on an average daily trading volume, of 166,522 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.2% of the company’s shares are short sold.

Institutional Trading of iShares MSCI UAE ETF

Several hedge funds have recently made changes to their positions in UAE. Royal Bank of Canada raised its position in iShares MSCI UAE ETF by 60.6% in the first quarter. Royal Bank of Canada now owns 22,774 shares of the company’s stock valued at $386,000 after purchasing an additional 8,594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in iShares MSCI UAE ETF in the first quarter valued at about $491,000. Jane Street Group LLC lifted its position in iShares MSCI UAE ETF by 682.5% in the first quarter. Jane Street Group LLC now owns 399,295 shares of the company’s stock valued at $6,776,000 after buying an additional 348,264 shares during the last quarter. Marshall Wace LLP boosted its stake in iShares MSCI UAE ETF by 15.7% during the second quarter. Marshall Wace LLP now owns 49,237 shares of the company’s stock worth $922,000 after buying an additional 6,683 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in iShares MSCI UAE ETF during the second quarter worth about $205,000.

iShares MSCI UAE ETF Trading Down 0.1%

NASDAQ:UAE traded down $0.02 during trading hours on Wednesday, hitting $19.54. The company had a trading volume of 54,650 shares, compared to its average volume of 498,882. The company has a 50-day moving average of $19.33 and a 200 day moving average of $19.50. The company has a market cap of $317.52 million, a P/E ratio of 10.93 and a beta of 0.43. iShares MSCI UAE ETF has a 1 year low of $17.29 and a 1 year high of $22.29.

iShares MSCI UAE ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were paid a dividend of $0.6631 per share. The ex-dividend date of this dividend was Monday, June 15th.

About iShares MSCI UAE ETF

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.