iShares MSCI Brazil ETF (NYSEARCA:EWZ) Shares Gap Down – Here’s What Happened

by · The Cerbat Gem

Shares of iShares MSCI Brazil ETF (NYSEARCA:EWZ – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $33.58, but opened at $32.10. iShares MSCI Brazil ETF shares last traded at $31.6940, with a volume of 15,481,538 shares traded.

iShares MSCI Brazil ETF Trading Down 5.5%

The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 9.58 and a beta of 0.87. The firm’s 50-day moving average is $31.80 and its two-hundred day moving average is $29.69.

Hedge Funds Weigh In On iShares MSCI Brazil ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. lifted its position in iShares MSCI Brazil ETF by 36.4% during the first quarter. Raymond James Financial Inc. now owns 258,024 shares of the exchange traded fund’s stock worth $6,670,000 after buying an additional 68,921 shares in the last quarter. Korea Investment CORP increased its holdings in shares of iShares MSCI Brazil ETF by 19.7% during the 1st quarter. Korea Investment CORP now owns 1,272,530 shares of the exchange traded fund’s stock worth $32,895,000 after buying an additional 209,710 shares during the last quarter. Wellington Management Group LLP raised its position in shares of iShares MSCI Brazil ETF by 4,795.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,002 shares of the exchange traded fund’s stock valued at $50,408,000 after buying an additional 1,991,533 shares during the period. PGIM Custom Harvest LLC raised its position in shares of iShares MSCI Brazil ETF by 107.9% during the 1st quarter. PGIM Custom Harvest LLC now owns 50,479 shares of the exchange traded fund’s stock valued at $1,305,000 after buying an additional 26,200 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in iShares MSCI Brazil ETF in the first quarter valued at approximately $1,043,000. 72.69% of the stock is owned by hedge funds and other institutional investors.

iShares MSCI Brazil ETF Company Profile

(Get Free Report)

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index 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 Brazilian market, as measured by the MSCI Brazil Index (the Index).

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