iShares MSCI Brazil ETF (NYSEARCA:EWZ) Hits New 52-Week High – What’s Next?

Shares of iShares MSCI Brazil ETF (NYSEARCA:EWZ) reached a new 52-week high during trading on Wednesday . The company traded as high as $34.83 and last traded at $34.8530, with a volume of 34956028 shares. The stock had previously closed at $33.62.

iShares MSCI Brazil ETF Stock Performance

The firm’s fifty day moving average is $32.80 and its 200-day moving average is $30.58. The company has a market capitalization of $8.10 billion, a P/E ratio of 9.58 and a beta of 0.87.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EWZ. Royal Bank of Canada grew its position in iShares MSCI Brazil ETF by 18.0% during the 1st quarter. Royal Bank of Canada now owns 344,041 shares of the exchange traded fund’s stock worth $8,894,000 after acquiring an additional 52,532 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of iShares MSCI Brazil ETF by 819.7% during the first quarter. NewEdge Advisors LLC now owns 1,683 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 1,500 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of iShares MSCI Brazil ETF by 60.0% during the second quarter. Parallel Advisors LLC now owns 1,760 shares of the exchange traded fund’s stock valued at $51,000 after purchasing an additional 660 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of iShares MSCI Brazil ETF during the second quarter worth about $400,000. Finally, Retireful LLC acquired a new position in shares of iShares MSCI Brazil ETF in the second quarter valued at approximately $500,000. 72.69% of the stock is currently owned by institutional investors and hedge funds.

iShares MSCI Brazil ETF Company Profile

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). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.