iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) Hits New 52-Week High – Still a Buy?

iShares MSCI Emerging Markets ETF (NYSEARCA:EEM)’s stock price hit a new 52-week high on Thursday . The company traded as high as $63.43 and last traded at $63.31, with a volume of 42171479 shares. The stock had previously closed at $62.62.

iShares MSCI Emerging Markets ETF Price Performance

The company has a fifty day simple moving average of $58.29 and a 200-day simple moving average of $54.93. The company has a market cap of $28.86 billion, a P/E ratio of 14.46 and a beta of 0.64.

Institutional Investors Weigh In On iShares MSCI Emerging Markets ETF

Hedge funds have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new position in iShares MSCI Emerging Markets ETF in the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC purchased a new stake in iShares MSCI Emerging Markets ETF during the fourth quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in shares of iShares MSCI Emerging Markets ETF by 369.7% in the third quarter. Versant Capital Management Inc now owns 465 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 366 shares during the period. Jessup Wealth Management Inc acquired a new position in shares of iShares MSCI Emerging Markets ETF in the fourth quarter worth about $31,000. Finally, Elevated Capital Advisors LLC purchased a new position in shares of iShares MSCI Emerging Markets ETF in the fourth quarter worth approximately $31,000. 81.39% of the stock is owned by hedge funds and other institutional investors.

iShares MSCI Emerging Markets ETF Company Profile

iShares MSCI Emerging Markets ETF, formerly iShares MSCI Emerging Markets Index Fund (the Fund), seeks investment results that correspond generally to the price and yield performance of publicly traded equity securities in global emerging markets, as measured by the MSCI Emerging Markets Index (the Index). The Index is designed to measure equity market performance in the global emerging markets. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.