iShares MSCI Spain ETF (NYSEARCA:EWP) Sets New 1-Year High – Still a Buy?

iShares MSCI Spain ETF (NYSEARCA:EWP) reached a new 52-week high during trading on Wednesday . The company traded as high as $60.49 and last traded at $59.82, with a volume of 162458 shares changing hands. The stock had previously closed at $60.28.

iShares MSCI Spain ETF Price Performance

The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 10.89 and a beta of 0.67. The firm has a 50 day simple moving average of $57.78 and a two-hundred day simple moving average of $56.13.

Institutional Trading of iShares MSCI Spain ETF

A number of hedge funds have recently modified their holdings of EWP. Royal Bank of Canada increased its stake in iShares MSCI Spain ETF by 14.0% in the first quarter. Royal Bank of Canada now owns 14,860 shares of the exchange traded fund’s stock valued at $565,000 after purchasing an additional 1,830 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of iShares MSCI Spain ETF during the second quarter worth $427,000. Jane Street Group LLC bought a new position in shares of iShares MSCI Spain ETF during the second quarter worth $16,165,000. Bank of America Corp DE grew its holdings in shares of iShares MSCI Spain ETF by 0.4% in the 2nd quarter. Bank of America Corp DE now owns 163,026 shares of the exchange traded fund’s stock valued at $7,178,000 after buying an additional 626 shares during the period. Finally, Benjamin Edwards Inc. acquired a new position in shares of iShares MSCI Spain ETF in the 2nd quarter valued at $1,178,000. 38.17% of the stock is currently owned by institutional investors and hedge funds.

About iShares MSCI Spain ETF

iShares MSCI Spain Capped ETF, formerly iShares MSCI Spain Index Fund, is an exchange-traded fund. 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 Spanish market, as measured by the MSCI Spain Index (the Index). The Index seeks to measure the performance of the Spanish equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.