iShares MSCI Turkey ETF (NASDAQ:TUR) Sees Significant Decline in Short Interest
by Amy Steele · The Cerbat GemiShares MSCI Turkey ETF (NASDAQ:TUR – Get Free Report) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 564,412 shares, a decline of 43.9% from the April 30th total of 1,005,520 shares. Based on an average daily volume of 262,146 shares, the days-to-cover ratio is currently 2.2 days. Currently, 9.4% of the company’s stock are sold short.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in TUR. Royal Bank of Canada raised its stake in iShares MSCI Turkey ETF by 166.0% during the first quarter. Royal Bank of Canada now owns 14,612 shares of the exchange traded fund’s stock valued at $479,000 after buying an additional 9,118 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in iShares MSCI Turkey ETF during the first quarter valued at about $230,000. JPMorgan Chase & Co. bought a new stake in iShares MSCI Turkey ETF during the second quarter valued at about $207,000. Raymond James Financial Inc. bought a new position in shares of iShares MSCI Turkey ETF in the second quarter worth about $47,000. Finally, Bank of America Corp DE boosted its stake in shares of iShares MSCI Turkey ETF by 8.3% in the second quarter. Bank of America Corp DE now owns 22,032 shares of the exchange traded fund’s stock worth $711,000 after acquiring an additional 1,688 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.
iShares MSCI Turkey ETF Stock Performance
Shares of NASDAQ TUR traded up $0.67 during mid-day trading on Tuesday, hitting $38.87. 514,112 shares of the stock traded hands, compared to its average volume of 393,518. iShares MSCI Turkey ETF has a 52 week low of $29.64 and a 52 week high of $43.98. The company has a market cap of $233.22 million, a price-to-earnings ratio of 10.68 and a beta of 0.37. The stock has a fifty day moving average price of $40.67 and a 200-day moving average price of $38.55.
iShares MSCI Turkey ETF Company Profile
iShares MSCI Turkey ETF (the Fund), formerly The iShares MSCI Turkey Investable Market Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the MSCI Turkey Investable Market Index (the Underlying Index). The Underlying Index is a free float-adjusted market capitalization index designed to measure equity market performance in Turkey. As of September 7, 2012, the Fund invests in sectors, such as financials, consumer staples, industrials, telecommunication services, materials, consumer discretionary, energy, healthcare, utilities and information technology.