iShares MSCI Canada ETF (NYSEARCA:EWC) Hits New 52-Week High – Should You Buy?

iShares MSCI Canada ETF (NYSEARCA:EWC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $62.59 and last traded at $62.51, with a volume of 441424 shares trading hands. The stock had previously closed at $62.12.

iShares MSCI Canada ETF Trading Down 0.7%

The company’s fifty day moving average is $59.62 and its 200 day moving average is $57.96. The company has a market capitalization of $6.42 billion, a P/E ratio of 19.77 and a beta of 0.86.

Institutional Investors Weigh In On iShares MSCI Canada ETF

Several hedge funds and other institutional investors have recently modified their holdings of EWC. The Manufacturers Life Insurance Company boosted its position in shares of iShares MSCI Canada ETF by 52.4% in the first quarter. The Manufacturers Life Insurance Company now owns 4,841,833 shares of the exchange traded fund’s stock valued at $265,284,000 after acquiring an additional 1,663,788 shares during the period. The Manufacturers Life Insurance Company increased its holdings in 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 acquiring an additional 2,999,053 shares during the period. Bank of America Corp DE increased its holdings in iShares MSCI Canada ETF by 8.1% during the 1st quarter. Bank of America Corp DE now owns 2,081,714 shares of the exchange traded fund’s stock worth $114,057,000 after acquiring an additional 156,792 shares during the period. Assetmark Inc. increased its holdings in iShares MSCI Canada ETF by 5.4% during the 1st quarter. Assetmark Inc. now owns 1,800,052 shares of the exchange traded fund’s stock worth $98,625,000 after acquiring an additional 91,652 shares during the period. Finally, Korea Investment CORP lifted its stake in iShares MSCI Canada ETF by 5.7% in the 4th quarter. Korea Investment CORP now owns 1,757,957 shares of the exchange traded fund’s stock worth $94,807,000 after purchasing an additional 94,857 shares in the last quarter.

About iShares MSCI Canada ETF

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.