iShares MSCI Canada ETF (NYSEARCA:EWC) Hits New 52-Week High – Still a Buy?

iShares MSCI Canada ETF (NYSEARCA:EWC)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $59.54 and last traded at $59.51, with a volume of 445863 shares. The stock had previously closed at $59.18.

iShares MSCI Canada ETF Trading Up 0.6%

The firm has a market cap of $6.08 billion, a PE ratio of 19.77 and a beta of 0.86. The stock has a 50 day simple moving average of $58.21 and a 200-day simple moving average of $56.71.

Hedge Funds Weigh In On iShares MSCI Canada ETF

A number of hedge funds have recently made changes to their positions in EWC. The Manufacturers Life Insurance Company raised its holdings in shares of iShares MSCI Canada ETF by 1,675.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,178,045 shares of the exchange traded fund’s stock worth $171,392,000 after acquiring an additional 2,999,053 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of iShares MSCI Canada ETF during the 2nd quarter valued at approximately $51,589,000. Graham Capital Management L.P. grew its holdings in shares of iShares MSCI Canada ETF by 525.5% in the fourth quarter. Graham Capital Management L.P. now owns 806,849 shares of the exchange traded fund’s stock valued at $43,513,000 after purchasing an additional 677,849 shares in the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of iShares MSCI Canada ETF in the first quarter valued at $30,134,000. Finally, Metis Global Partners LLC bought a new stake in iShares MSCI Canada ETF in the fourth quarter worth $25,125,000.

iShares MSCI Canada ETF Company Profile

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.