iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Gap Down – Here’s Why

iShares MSCI South Korea ETF (NYSEARCA:EWY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $219.02, but opened at $193.60. iShares MSCI South Korea ETF shares last traded at $198.32, with a volume of 6,818,713 shares traded.

iShares MSCI South Korea ETF Stock Up 2.6%

The stock’s 50 day moving average price is $183.12 and its 200-day moving average price is $141.57. The stock has a market capitalization of $26.25 billion, a PE ratio of 10.35 and a beta of 1.45.

Institutional Investors Weigh In On iShares MSCI South Korea ETF

Several large investors have recently added to or reduced their stakes in EWY. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of iShares MSCI South Korea ETF in the fourth quarter valued at approximately $2,231,000. Diversify Advisory Services LLC purchased a new position in iShares MSCI South Korea ETF during the 3rd quarter worth $689,000. Choreo LLC bought a new stake in iShares MSCI South Korea ETF during the 3rd quarter valued at $376,000. Ehrenkranz Partners L.P. bought a new stake in iShares MSCI South Korea ETF during the 3rd quarter valued at $12,744,000. Finally, Group One Trading LLC lifted its holdings in shares of iShares MSCI South Korea ETF by 20.4% in the 3rd quarter. Group One Trading LLC now owns 66,107 shares of the exchange traded fund’s stock worth $5,295,000 after buying an additional 11,195 shares during the period. 49.22% of the stock is owned by hedge funds and other institutional investors.

About iShares MSCI South Korea ETF

iShares MSCI South Korea Capped ETF (the Fund) is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Korea 25/50 Index (the Index). The Index consists of stocks traded primarily on the Stock Market Division of the Korean Exchange. The Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no issuer of a component exceeds 25% of the Index weight and all issuers with weight above 5% do not exceed 50% of the Index weight.