iShares MSCI Taiwan ETF (NYSEARCA:EWT) Sets New 1-Year High – Here’s Why

iShares MSCI Taiwan ETF (NYSEARCA:EWT)’s share price reached a new 52-week high on Wednesday . The company traded as high as $92.99 and last traded at $92.77, with a volume of 4218064 shares trading hands. The stock had previously closed at $90.41.

iShares MSCI Taiwan ETF Price Performance

The firm has a market cap of $9.52 billion, a P/E ratio of 17.58 and a beta of 1.07. The business’s 50-day moving average is $76.03 and its two-hundred day moving average is $69.66.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EWT. BNP Paribas Financial Markets grew its position in iShares MSCI Taiwan ETF by 393.4% in the second quarter. BNP Paribas Financial Markets now owns 2,085,693 shares of the exchange traded fund’s stock valued at $119,719,000 after purchasing an additional 1,662,985 shares in the last quarter. Hsbc Holdings PLC grew its position in iShares MSCI Taiwan ETF by 2,779.7% in the first quarter. Hsbc Holdings PLC now owns 1,185,627 shares of the exchange traded fund’s stock valued at $84,084,000 after purchasing an additional 1,144,455 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in iShares MSCI Taiwan ETF in the fourth quarter valued at $57,028,000. Fifth Third Bancorp bought a new position in iShares MSCI Taiwan ETF in the first quarter valued at $43,753,000. Finally, DRW Securities LLC bought a new position in iShares MSCI Taiwan ETF in the fourth quarter valued at $38,207,000.

iShares MSCI Taiwan ETF Company Profile

Ishares MSCI Taiwan Index Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Taiwan IndexSM (the Index). The Index consists of stocks traded primarily on the Taiwan Stock Exchange. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.