iShares MSCI Kuwait ETF (BATS:KWT) Trading Up 6.6% – Time to Buy?

iShares MSCI Kuwait ETF (BATS:KWT) shares shot up 6.6% during trading on Wednesday . The company traded as high as $35.67 and last traded at $37.8950. 1,915 shares changed hands during trading, a decline of 82% from the average session volume of 10,905 shares. The stock had previously closed at $35.5362.

iShares MSCI Kuwait ETF Stock Up 6.6%

The firm has a market cap of $89.05 million, a price-to-earnings ratio of 17.65 and a beta of 0.45. The business has a 50 day moving average price of $38.86 and a 200-day moving average price of $39.10.

Institutional Trading of iShares MSCI Kuwait ETF

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of iShares MSCI Kuwait ETF during the second quarter worth $10,561,000. IFM Investors Pty Ltd purchased a new stake in iShares MSCI Kuwait ETF during the 3rd quarter worth $4,351,000. JPMorgan Chase & Co. lifted its holdings in iShares MSCI Kuwait ETF by 573.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,144 shares of the company’s stock worth $1,074,000 after buying an additional 23,113 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in iShares MSCI Kuwait ETF in the 2nd quarter worth $793,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in iShares MSCI Kuwait ETF in the 1st quarter valued at about $357,000.

iShares MSCI Kuwait ETF Company Profile

The iShares MSCI Kuwait ETF (KWT) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of all-cap stocks in Kuwait. KWT was launched on Sep 1, 2020 and is managed by BlackRock.