iShares MSCI South Korea ETF (NYSEARCA:EWY) Stock Jumps 4.6% – Here’s What Happened

iShares MSCI South Korea ETF (NYSEARCA:EWY)’s stock price shot up 4.6% during trading on Wednesday. The stock traded as high as $164.06 and last traded at $164.7050. 3,372,355 shares were traded during trading, a decline of 82% from the average daily volume of 18,821,650 shares. The stock had previously closed at $157.46.

iShares MSCI South Korea ETF Stock Performance

The company has a market cap of $23.72 billion, a price-to-earnings ratio of 10.35 and a beta of 1.51. The stock’s fifty day moving average is $175.87 and its two-hundred day moving average is $161.90.

Institutional Trading of iShares MSCI South Korea ETF

Several institutional investors and hedge funds have recently modified their holdings of EWY. BOCHK Asset Management Ltd boosted its holdings in shares of iShares MSCI South Korea ETF by 50.0% in the 3rd quarter. BOCHK Asset Management Ltd now owns 1,650 shares of the exchange traded fund’s stock worth $302,000 after buying an additional 550 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in iShares MSCI South Korea ETF during the third quarter worth about $594,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in iShares MSCI South Korea ETF during the third quarter worth about $19,295,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in iShares MSCI South Korea ETF during the third quarter worth about $1,462,000. Finally, Vise Technologies Inc. bought a new stake in iShares MSCI South Korea ETF in the third quarter worth about $260,000. 49.22% of the stock is owned by hedge funds and other institutional investors.

About iShares MSCI South Korea ETF

iShares MSCI South Korea Capped ETF (the Fund) is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Korea 25/50 Index (the Index). The Index consists of stocks traded primarily on the Stock Market Division of the Korean Exchange. The Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no issuer of a component exceeds 25% of the Index weight and all issuers with weight above 5% do not exceed 50% of the Index weight.