iShares MSCI Australia ETF (NYSEARCA:EWA) Hits New 1-Year High – Here’s What Happened

iShares MSCI Australia ETF (NYSEARCA:EWA) hit a new 52-week high on Tuesday . The stock traded as high as $28.88 and last traded at $28.83, with a volume of 4265629 shares. The stock had previously closed at $28.23.

iShares MSCI Australia ETF Trading Up 2.1%

The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 19.89 and a beta of 1.04. The firm’s 50 day simple moving average is $26.79 and its 200-day simple moving average is $26.72.

Hedge Funds Weigh In On iShares MSCI Australia ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in EWA. Comerica Bank boosted its stake in shares of iShares MSCI Australia ETF by 21.7% in the first quarter. Comerica Bank now owns 3,627 shares of the exchange traded fund’s stock valued at $85,000 after buying an additional 646 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of iShares MSCI Australia ETF during the 1st quarter worth $42,000. Griffin Asset Management Inc. acquired a new position in shares of iShares MSCI Australia ETF during the 2nd quarter worth $220,000. TD Asset Management Inc increased its holdings in shares of iShares MSCI Australia ETF by 6.4% in the 2nd quarter. TD Asset Management Inc now owns 109,113 shares of the exchange traded fund’s stock valued at $2,872,000 after purchasing an additional 6,559 shares in the last quarter. Finally, Lunt Capital Management Inc. acquired a new stake in shares of iShares MSCI Australia ETF in the second quarter valued at about $201,000. Institutional investors and hedge funds own 59.69% of the company’s stock.

About iShares MSCI Australia ETF

iShares MSCI Australia ETF (the Fund), formerly iShares MSCI Australia Index Fund, is an exchange-traded fund (ETF). The Fund seeks to provide investment results that correspond generally to the price and yield performance, of publicly traded securities in the Australian market, as represented by the MSCI Australia Index (the Index). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Index seeks to measure the performance of the Australian equity market.