iShares MSCI Turkey ETF (NASDAQ:TUR) Sees Significant Decline in Short Interest

iShares MSCI Turkey ETF (NASDAQ:TUR) was the recipient of a significant decline in short interest in the month of 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. Approximately 9.4% of the company’s shares are sold short. Based on an average daily trading volume, of 262,146 shares, the short-interest ratio is currently 2.2 days.

iShares MSCI Turkey ETF Price Performance

iShares MSCI Turkey ETF stock traded up $0.67 during trading hours on Tuesday, reaching $38.87. The company had a trading volume of 514,112 shares, compared to its average volume of 393,518. The firm has a market cap of $233.22 million, a price-to-earnings ratio of 10.68 and a beta of 0.37. iShares MSCI Turkey ETF has a 12-month low of $29.64 and a 12-month high of $43.98. The company has a 50-day moving average price of $40.67 and a 200 day moving average price of $38.55.

Hedge Funds Weigh In On iShares MSCI Turkey ETF

Several hedge funds and other institutional investors have recently modified their holdings of TUR. UBS Group AG lifted its stake in iShares MSCI Turkey ETF by 121.7% in the third quarter. UBS Group AG now owns 238,200 shares of the exchange traded fund’s stock worth $8,154,000 after acquiring an additional 130,746 shares during the period. Group One Trading LLC increased its position in iShares MSCI Turkey ETF by 256,404.0% during the 4th quarter. Group One Trading LLC now owns 64,126 shares of the exchange traded fund’s stock valued at $2,207,000 after purchasing an additional 64,101 shares during the period. Quadrature Capital Ltd bought a new position in iShares MSCI Turkey ETF in the 4th quarter worth $1,653,000. SG Americas Securities LLC bought a new position in iShares MSCI Turkey ETF in the 1st quarter worth $1,546,000. Finally, Simplex Trading LLC purchased a new stake in shares of iShares MSCI Turkey ETF in the 4th quarter worth about $1,314,000. 44.58% of the stock is owned by institutional investors.

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.