iShares MSCI Taiwan ETF (NYSEARCA:EWT) Hits New 12-Month High – Still a Buy?

iShares MSCI Taiwan ETF (NYSEARCA:EWT)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $70.16 and last traded at $69.94, with a volume of 8627952 shares. The stock had previously closed at $69.71.

iShares MSCI Taiwan ETF Price Performance

The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 17.58 and a beta of 0.94. The firm’s fifty day moving average price is $64.90 and its two-hundred day moving average price is $63.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of iShares MSCI Taiwan ETF by 177.2% during the first quarter. Royal Bank of Canada now owns 146,633 shares of the exchange traded fund’s stock valued at $6,962,000 after acquiring an additional 93,731 shares in the last quarter. Goldman Sachs Group Inc. grew its position in iShares MSCI Taiwan ETF by 2,953.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 602,344 shares of the exchange traded fund’s stock valued at $28,599,000 after purchasing an additional 582,615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in iShares MSCI Taiwan ETF in the 1st quarter valued at $15,669,000. BOCHK Asset Management Ltd bought a new stake in iShares MSCI Taiwan ETF during the 2nd quarter valued at $488,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in iShares MSCI Taiwan ETF by 24.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,800 shares of the exchange traded fund’s stock worth $1,424,000 after buying an additional 4,800 shares during the last quarter.

About iShares MSCI Taiwan ETF

Ishares MSCI Taiwan Index Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Taiwan IndexSM (the Index). The Index consists of stocks traded primarily on the Taiwan Stock Exchange. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.