iShares MSCI Canada ETF (NYSEARCA:EWC) Hits New 12-Month High – Should You Buy?

iShares MSCI Canada ETF (NYSEARCA:EWC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $58.97 and last traded at $58.93, with a volume of 41899 shares traded. The stock had previously closed at $58.51.

iShares MSCI Canada ETF Stock Up 0.2%

The company has a market cap of $5.24 billion, a price-to-earnings ratio of 19.77 and a beta of 0.86. The firm has a 50-day simple moving average of $56.71 and a 200 day simple moving average of $55.16.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in iShares MSCI Canada ETF by 52.4% during the first quarter. The Manufacturers Life Insurance Company now owns 4,841,833 shares of the exchange traded fund’s stock worth $265,284,000 after buying an additional 1,663,788 shares during the period. Bank of America Corp DE increased its holdings in shares of iShares MSCI Canada ETF by 8.1% in the first quarter. Bank of America Corp DE now owns 2,081,714 shares of the exchange traded fund’s stock valued at $114,057,000 after purchasing an additional 156,792 shares during the period. Assetmark Inc. increased its holdings in shares of iShares MSCI Canada ETF by 5.4% in the first quarter. Assetmark Inc. now owns 1,800,052 shares of the exchange traded fund’s stock valued at $98,625,000 after purchasing an additional 91,652 shares during the period. Korea Investment CORP increased its holdings in shares of iShares MSCI Canada ETF by 5.7% in the fourth quarter. Korea Investment CORP now owns 1,757,957 shares of the exchange traded fund’s stock valued at $94,807,000 after purchasing an additional 94,857 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of iShares MSCI Canada ETF by 1.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,534,679 shares of the exchange traded fund’s stock valued at $62,538,000 after purchasing an additional 21,113 shares during the period.

About iShares MSCI Canada ETF

iShares MSCI Canada ETF (the Fund), formerly iShares MSCI Canada Index Fund, is an exchange-traded fund (ETF). The 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 Canadian market, as measured by the MSCI Canada Index (the Index). The Index seeks to measure the performance of the Canadian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.