iShares MSCI Canada ETF (NYSEARCA:EWC) Stock Cross Below 50 Day Moving Average – What’s Next?

iShares MSCI Canada ETF (NYSEARCA:EWC)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $60.36 and traded as low as $60.06. iShares MSCI Canada ETF shares last traded at $60.21, with a volume of 2,594,349 shares changing hands.

iShares MSCI Canada ETF Trading Down 1.0%

The stock has a market capitalization of $7.53 billion, a P/E ratio of 19.77 and a beta of 0.86. The company has a 50-day moving average price of $60.36 and a 200 day moving average price of $58.33.

Hedge Funds Weigh In On iShares MSCI Canada ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of iShares MSCI Canada ETF by 52.4% during the first quarter. The Manufacturers Life Insurance Company now owns 4,841,833 shares of the exchange traded fund’s stock valued at $265,284,000 after buying an additional 1,663,788 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of iShares MSCI Canada ETF by 8.1% in the 1st quarter. Bank of America Corp DE now owns 2,081,714 shares of the exchange traded fund’s stock valued at $114,057,000 after buying an additional 156,792 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of iShares MSCI Canada ETF in the 3rd quarter worth approximately $112,275,000. Assetmark Inc. grew its position in shares of iShares MSCI Canada ETF by 5.4% in the 1st quarter. Assetmark Inc. now owns 1,800,052 shares of the exchange traded fund’s stock worth $98,625,000 after buying an additional 91,652 shares during the last quarter. Finally, Stairway Partners LLC grew its position in shares of iShares MSCI Canada ETF by 0.7% in the 2nd quarter. Stairway Partners LLC now owns 819,964 shares of the exchange traded fund’s stock worth $47,263,000 after buying an additional 5,571 shares during the last quarter.

About iShares MSCI Canada ETF

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.